Advertisements
Advertisements
Question
To start a business, Shalaka has taken a loan of ₹8000 at a rate of 10 `1/2` p.c.p.a. After two years, how much compound interest will she have to pay?
Advertisements
Solution
Here, P = ₹8000, R = `10 1/2 = 21/2` p.c.p.a, N = 2 Years
A = `"P"(1 + "R"/100)^"N"`
= `8000(1 + (21/2)/100)^2`
= `8000(1 + 21/200)^2`
= `8000((200 + 21)/200)^2`
= `8000(221/200)^2`
= `8000 xx 221/200 xx 221/200`
= `(2 xx 221 xx 221)/10`
= `97682/10`
∴ A = 9768.2
∵ A = P + I
9768.2 = 8000 + I
9768.2 − 8000 = I
I = ₹ 1768.2
RELATED QUESTIONS
The population of a place increased to 54000 in 2003 at a rate of 5% per annum Find the population in 2001.
Compute the amount and the compound interest in the following by using the formulae when:
Principal = Rs 12800, Rate = \[7\frac{1}{2} %\], Time = 3 years
There is a continuous growth in population of a village at the rate of 5% per annum. If its present population is 9261, what it was 3 years ago?
The population of a town increases at the rate of 50 per thousand. Its population after 2 years will be 22050. Find its present population.
The population of a certain city was 72000 on the last day of the year 1998. During next year it increased by 7% but due to an epidemic it decreased by 10% in the following year. What was its population at the end of the year 2000?
6400 workers were employed to construct a river bridge in four years. At the end of the first year, 25% workers were retrenched. At the end of the second year, 25% of those working at that time were retrenched. However, to complete the project in time, the number of workers was increased by 25% at the end of the third year. How many workers were working during the fourth year?
The value of a machine depreciates at the rate of 10% per annum. It was purchased 3 years ago. If its present value is Rs 43740, find its purchase price.
A shepherd has 200 sheep with him. Find the number of sheep with him after 3 years if the increase in the number of sheep is 8% every year.
The cost price of a machine is 2,50,000. If the rate of depreciation is 10% per year, find the depreciation in price of the machine after two years.
