Advertisements
Advertisements
Question
Shekhar had a fixed deposit of Rs 24000 for 3 years . If he received interest at 10% p.a compounded annually, find the amount received by him at the time of maturity.
Advertisements
Solution
Amount = `"P" (1 + "r"/100)^"t"`
Amount = `24000 (1 + 10/100)^3 = 31944`
Therefore, Shekhar received Rs . 31944 at the time of maturity.
APPEARS IN
RELATED QUESTIONS
Pradeep gave Rs.16000 to a friend for 1.5 years at 15% p.a. compounded semi-annually. Find the interest earned by him at the end of 1.5 years.
Mr. Chatterjee borrowed Rs 50,000 in compound interest from Mr. Patel for 2 years when the rates of interest for the successive years were `7 1/2 %` and `9 1/4 %`. If Mr. Chatterjee returned Rs 27, 750 at the end of the first year, find the amount he needs to return at the end of the seoond year to clear the loan.
What sum of money will amount to Rs 9,447.84 in 3 years at 8% p.a. compound interest?
What sum of money will amount to Rs 3,326.40 in 3 years at compound interest, if the rates of interest are 8%, 10% and 12% for the successive years?
Calculate the amount and cornpound interest for the following, when cornpounded annually:
Rs 7 ,500 for `2 1/2` years ; r =16 % p.a.
On what sum of money will the compound interest for `1 1/2` years at 16% p.a. compounded half-yearly amount to Rs 649.28?
Calculate the rate per cent at which Rs 12,250 will yield Rs 3,116.40 as compound interest in 2 years.
In what time will Rs 50,000 yield an interest of Rs 32,151.60 at 18% per annum interest compounded annually?
The compound interest on a certain sum of money at 5% p.a. for 2 years is Rs 512.50. What will be the simple interest on the same sum for 3 years at 6% p.a.?
If the interest is compounded half yearly, calculate the amount when the Principal is Rs. 7,400, the rate of interest is 5% per annum and the duration is one year.
