Advertisements
Advertisements
Question
What sum of money will amount to Rs 10,256.40 in 3 years at compound interest if the rates of interest for the successive years are 10%, 11% and 12%?
Advertisements
Solution
Here P = ? ; t = 3 years ; r = 10%, 11% and 12% successively ; A= Rs 10.256.40
`"A" = "P" (1 + "r"/100)^"n"`
Rs 10256.40 = P `(1 + 10/100)(1 + 11/100)(1 + 12/100)`
Rs 10,256.40=P x 1.1 x 1.11 x 1.12
Rs 10,256.40 = 1.36752 P
P = Rs `10256.40/1.36752`
P = Rs7,500
Hence, the sum of money is Rs 7,500.
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
Rajeev borrowed Rs 15,000 from Sanjay at 12% p.a. compound interest. After 2 years Rajeev gave Rs 7,500 and a scooter to clear the account. Find the cost of the scooter.
What sum of money will amount to Rs 9,447.84 in 3 years at 8% p.a. compound interest?
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 for the following, when cornpounded annually:
Rs 7 ,500 for `2 1/2` years ; r =16 % 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%?
On what sum of money will the compound interest for `2 1/2` years at 12% per annum amount to Rs 8,241.60?
On what sum of money will the compound interest for `2 1/2` years at `12 1/2`% per annum amount to Rs 82,734.37?
On what sum of money will the compound interest for 2 years at 10% p.a. compounded half-yearly amount to Rs 3,448.10?
A sum of money placed at compound interest compounded annually amounts to Rs 31,360 in 2 years and to Rs 35,123.20 in 3 years. Calculate the rate of interest and the sum.
