Advertisements
Advertisements
Question
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%?
Advertisements
Solution
Here P= ? ; t = 2 years ; r = 15% and 17% successively; A= Rs 8,073
`"A" = "P" (1 + "r"/100)^"n"`
Rs 8073 = P`(1 + 15/100)(1 + 17/100)`
Rs 8,073= P x 1.15 x 1.17
Rs 8,073 = 1.3455 P
P = Rs `8073/13455`
P = Rs 6,000
Hence, the sum of money is Rs 6,000
RELATED QUESTIONS
Amita wanted to start a business for which she needed Rs, 40000. She borrowed this from Dolly at 10% p.a compounded semi-annually. Find the extra amount that she needs to pay at the end of two years to clear her debt.
The value of a 'Honda' bike depreciated by 16% in the first year and by 13% in the second year. Find the value of the bike if it depreciated by Rs 7,098 in the second year.
A certain sum of money invested at compound interest compounded annually amounted to Rs 5,082 after 2 years and to Rs 5,590.20 after 3 years. Calculate the rate of interest and the sum invested.
The cost of a scooter depreciated by Rs 5100 during the second year and by Rs 4,335 during the third year. Calculate
the rate of depreciatlon
The cost of a machine depreciated by Rs 2592 during the third year and by Rs 2332.80 during the fourth year. Calculate :
The original cost.
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.
Calculate the amount and the compound interest for the following:
Rs 10,000 for 3 years if tl1e rates of interest are 10%, 11% and 12% for the successive years.
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.
