Advertisements
Advertisements
Question
The difference between the compound interest and simple interest on a certain sum for 2 years at 7.5% per annum is Rs 360. Find the sum.
Advertisements
Solution
Let the sum be P .
Thus, we have:
CI - SI = 360
\[\left[ P \left( 1 + \frac{R}{100} \right)^n - P \right] - \frac{P \times 7 . 5 \times 2}{100} = 360\]
\[P\left[ \left( 1 + \frac{7 . 5}{100} \right)^2 - 1 \right] - \frac{P \times 7 . 5 \times 2}{100} = 360\]
\[P\left[ 1 . 155625 - 1 \right] - \] 0.15P= 3600.155625P - 0.15P=3600.005625P= 360p=`360/0.005625P` = 64000
Thus, the required sum is Rs. 64.
APPEARS IN
RELATED QUESTIONS
Calculate the amount and compound interest on Rs 18000 for `2 1/2` years at 10% per annum compounded annually.
In how much time would Rs 5000 amount to Rs 6655 at 10% per annum compound interest?
Kamala borrowed from Ratan a certain sum at a certain rate for two years simple interest. She lent this sum at the same rate to Hari for two years compound interest. At the end of two years she received Rs 210 as compound interest, but paid Rs 200 only as simple interest. Find the sum and the rate of interest.
A certain sum amounts to Rs. 5,292 in two years and Rs. 5,556.60 in three years, interest being compounded annually. Find : the rate of interest.
Calculate the amount and the compound interest on Rs. 12,000 in 2 years and at 10% per year.
Calculate the compound interest on Rs. 15,000 in 3 years; if the rates of interest for successive years be 6%, 8%, and 10% respectively.
Rekha borrowed Rs. 40,000 for 3 years at 10% per annum compound interest. Calculate the interest paid by her for the second year.
The annual rate of growth in population of a town is 10%. If its present population is 26620, then the population 3 years ago was _________
In how many years will ₹ 3375 become ₹ 4096 at `13 1/3` p.a if the interest is compounded half-yearly?
The sum which amounts to ₹ 2662 at 10% p.a in 3 years, compounded yearly is _________
