Advertisements
Advertisements
Question
The S.I. and C.I. on a sum of money for 2 years is Rs. 200 and 210 respectively. If the rate of interest is the same. Find the sum and rate.
Advertisements
Solution
Let the sum be P and rate of interest be r % then.
S.I. = `("P" xx "r" xx "n")/(100)`
200 = `("P" xx "r" xx 2)/(100)`
P.r = 10000 ...(i)
C.I. = P `[(1 + r/100)^n - 1]`
210 = `(10000)/r [(1 + r/100)^2 - 1]`
210 = `(10000)/r ((100 + r)^2 - 100^2)/(100)^2`
210 = `(r^2 + 200r)/r`
r2 + 200 r = 210 r
r2 = 10 r
r = 10%
Using this in equation (1), we get
P = `(10000)/(10)`
= ₹ 1000
∴ P = ₹ 1,000
r = 10%
RELATED QUESTIONS
Amita wanted to start a business for which she needed Rs, 40000. She borrowed this from Dolly at 10% p.a compounded semi-annually. Find the extra amount that she needs to pay at the end of two years to clear her debt.
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.
What sum of money will amount to Rs 16,637.50 in 3 years at 10 % p.a. compound interest?
The cost of a scooter depreciated by Rs 5100 during the second year and by Rs 4,335 during the third year. Calculate
In what time will Rs 8,000 amount to Rs 12,167 at 15% per annum compounded annually?
A sum of money placed at compound interest compounded annually amounts to Rs 47,610 in 2 years and to Rs 54,751.50 in 3 years. Calculate the rate of interest and the sum.
A sum of money placed at compound interest compounded annually amounts to Rs 26,460 in 2 years and to Rs 29,172.15 in 4 years. Calculate the rate of interest and the sum.
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.?
In how many years will Rs. 15,625 amount to Rs. 17,576 at 4% p.a., compound interest?
The population of a city is 1,25,000. If the annual birth rate and death rate are 5.5% and 3.5% respectively. Calculate the population of the city after 3 years.
