Advertisements
Advertisements
Question
What sum of money will amount to Rs 13,675.20 in 3 years at compound interest, if the rates of interest are 10%, 11% and 12% for the successive years?
Advertisements
Solution
For the third year
Here P = x ; A= Rs 13,675.20 ; t = 1 year; r = 12 % p.a.
`therefore "A" = "P" (1 + "r"/100)^"n"`
`=> "Rs" 13675.20 = "x" (1 + 12/100)^1`
`=> "Rs" 13675.20 = "x" (112/100)`
`=> x = "Rs" (13675.20 xx 100)/112`
⇒ x = Rs 12, 210
The sum of money will be Rs 12,210 at the end of the second year or beginnino;; of the third year.
For the second year
Here P = x ; A= Rs 12,210 ; t = 1 year ; r = 11 % p.a.
`therefore "A" = "P" (1 + "r"/100)^"n"`
`=> "Rs" 12210 = "x" (1 + 11/100)^1`
`=> "Rs" 12210 = "x" (111/100)`
`=> x = "Rs" (12210 xx 100)/111`
⇒ x = Rs 11, 000
The sum of money will be Rs 11,000 at the end of the first year or beginning of the second year.
For the first year
Here P = x; A= Rs 11,000; t = 1 year; r = 10 % p.a.
`therefore "A" = "P" (1 + "r"/100)^"n"`
`=> "Rs" 11000 = "x" (1 + 10/100)^1`
`=> "Rs" 11000 = "x" (11/100)`
`=> x = "Rs" (11000 xx 10)/11`
⇒ x = Rs 10, 000
The sum of money will be Rs 10,000 at the beginning of the first year.
RELATED QUESTIONS
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.
The interests on two successive years for a sum invested at compound interest compounded annually are Rs 840 and Rs 940.80. Calculate the rate of interest and the sum invested.
Calculate the amount and the compound interest for the following, when cornpounded half-yearly:
Rs 25,000 for `1 1/2` years at 12 %
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 1/2`% per annum amount to Rs 82,734.37?
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.
The compound interest on a certain sum of money at 10% p.a. for 3 years is Rs 4,965. What will be the simple interest on the same sum for 3 years at 11% 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.
