Advertisements
Advertisements
Question
Simple interest on a sum of money for 2 years at 4% is Rs. 450. Find compound interest on the same sum and at the same rate for 1 year, if the interest is reckoned half yearly.
Advertisements
Solution
1st case
Given: S.I. = Rs. 450; Time = 2 years and Rate = 4%
∴ Principle = `[ "I" xx 100 ]/[ "R" xx "T"]`
= `[ 450 xx 100 ]/[ 4 xx 2 ]`
= Rs. 5625
2nd case (compounded half-yearly)
P = Rs. 5,625; n = 1 year and r = 4%
∴ A = P`(1 + r/[ 2 xx 100 ])^( n xx 2)`
= `5625(1 + 4/[ 2 xx 100 ])^(1 xx 2)`
= `5625(51/50)^2`
= Rs. 5852.25
∴ C.I. = 5852.25 - 5625
= Rs. 227.25
APPEARS IN
RELATED QUESTIONS
In what time will Rs. 1500 yield Rs. 496.50 as compound interest at 10% per annum compounded annually?
The present population of the town is 2,00,000. The population is increased by 10% in the first year and 15% in the second year. Find the population of the town at the end of two years.
The compound interest, calculated yearly, on a certain sum of money for the second year is Rs. 1320 and for the third year is Rs. 1452. Calculate the rate of interest and the original sum of money
Calculate the amount and the compound interest for the following:
Rs.23,7 50 at 12°/o p.a. in `2 1/2` years
Calculate the amount and the compound interest for the following:
Rs.40, 000 at `5 1/4` % p.a. in `1 1/3` years
The value of a scooter depreciates by 12% of its value at the beginning of the year. Find the original value of the scooter if it depreciated by Rs 2,640 in the second year.
Rohit borrows Rs. 86,000 from Arun for two years at 5% per annum simple interest. He immediately lends out this money to Akshay at 5% compound interest compounded annually for the same period. Calculate Rohit's profit in the transaction at the end of two years.
The simple interest on a certain sum of money for 3 years at 5% per annum is Rs.1,200. Find the amount and the compound interest due on this sum of money at the same rate and after 2 years. Interest is reckoned annually.
Find the amount and the compound interest on Rs 17500 for 3 years, if the rates for successive years is 4%, 5% and 6% respectively, the interest is payable annually.
Priyanka lends Rs.15,500 at 10% for the first year, at 15% for the second year and at 20% for the third year. If the rates of interest are compounded yearly, find the difference between the compound interest of the second year and the third year.
