Advertisements
Advertisements
Question
What principal will amount to Rs.15729 in two years, if the rate of interest for successive years are 5% and 7% respectively, the interest is being compounded annually.
Advertisements
Solution
Given : Amount = Rs.15729, n = 2 years, r1 = 5 and r2 = 7%
A = `"P"(1 + "r"_1/100)(1 + "r"_2/100)`
⇒ 15729 = `"P"(1 + 5/100)(1 + 7/100)`
⇒ 15729 = `"P"(105/100)(107/100)`
⇒ P = `(15729 xx 100 xx 100)/(105 xx 107)`
⇒ P = Rs.14000.
APPEARS IN
RELATED QUESTIONS
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
In what period of time will Rs. 12,000 yield Rs. 3972 as compound interest at 10% per annum, if compounded on a yearly basis?
Calculate the amount and the compound interest for the following:
Rs.40, 000 at `5 1/4` % p.a. in `1 1/3` years
Calculate the amount and the compound interest for the following:
Rs.16, 000 at 15 °/o p.a. in `2 2/3` years
The value of a refrigerator depreciates by 8% of its value at the beginning of the year. Find the original value of the refrigerator if it depreciated by Rs 2,392 in the second year.
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.
Calculate the sum of money on which the compound interest (payable annually) for 2 years be four times the simple interest on Rs. 4,715 for 5 years, both at the rate of 5% per annum.
Find the amount and the compound interest payable annually on:
Rs.17500 for 3 years at 8%, 10% and 12% for the successive years.
A man borrows Rs.20000 at 10% per annum compound interest payable annually. If he repays Rs.5000 at the end of the first year and Rs.10000 at the end of the second year; how much should he pay at the end of the third year in order to clear the account? Find the answer correct to the nearest rupee.
