Advertisements
Advertisements
Question
The simple interest on an amount for 2 years at 8% is Rs 320. Calculate the compound interest on the same amount at the same rate for 1 year if the interest is compounded half-yearly.
Advertisements
Solution
Here, P = ? ; t = 2 years ; r = 8 % p.a.
S.I. = Rs 320
P = Rs `("S.I." xx 100)/("r" xx "t")`
P = Rs `(320 xx 100)/(8 xx 2)`
P = Rs 2,000
Now, P =Rs 2,000 ; t = 1 year
n = 2t = 2 × 1=2
r = `1/2 xx 8 % = 4 %` Per conversion period.
`"A" = "P" (1 + "r"/100)^"n"`
A = Rs 2000 `(1 + 4/100)^2`
= Rs 2,000 x1.04 x 1.04 = Rs 2,163.20
C.I. =A - P
= Rs (2, 163.20 - 2,000)
=Rs 163.20
Hence, compound interest= Rs 163.20
APPEARS IN
RELATED QUESTIONS
Prashant borrowe Rs. 35000 at 12% p.a. compounded semi-annually. Find the amount he needs to pay back at the end of `1 1/2` years
Mr.Mohan invested Rs. 12500 at 16 % p.a. compounded annually. If the duration of the deposite was 1.5 years , find the amount Mr.Mohan received at the end of 1.5 years.
Manoj borrowed Rs 25,000 from Sohan at 8.4 % p.a. compound interest. After 2 years Manoj cleared Rs 17,500 and a motorcycle. Find the cost of the motorcycle.
What sum of money will amount to Rs 7,128 in 2 years at compound interest, if the rates of interest are 8% and 10% for successive years?
The cost of a machine depreciated by Rs 2592 during the third year and by Rs 2332.80 during the fourth year. Calculate :
The rate of depreciation.
Calculate the amount and cornpound interest for the following, when cornpounded annually:
Rs 16,000 for 3 years at `7 1/2` % p.a.
Calculate the amount and cornpound interest of the following, when cornpounded annually:
Rs 20,000 for 2 years at `12 1/2` % p.a.
What sum of money will amount to Rs 8,073 in 2 years at compound interest if the rates of interest for the successive years are 15% and 17%?
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.
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.
