Advertisements
Advertisements
Question
What sum of money will amount to Rs. 27,783 in one and a half years at 10% per annum compounded half yearly?
Advertisements
Solution
Given:
Amount, A = ₹ 27,783
Rate, R = 10% per annum
Time, T = 1.5 years = `1 1/2 = 3/2` years
Compounded half-yearly
Convert data for half-yearly compounding
Rate per half-year = `10/2 = 5%`
Number of half-years = 1.5 × 2 = 3
Use compound interest formula
`A = P (1+r/100)^n`
27,783 = P `(1+5/100)^3`
27,783 = P(1.05)3
27,783 = P × 1.157625
`P = 27783/1.157625`
P = ₹ 24,000
APPEARS IN
RELATED QUESTIONS
If the interest is compounded half-yearly, calculate the amount when principal is Rs. 7,400; the rate of interest is 5% per annum and the duration is one year.
A man borrowed Rs.16,000 for 3 years under the following terms:
20% simple interest for the first 2 years.
20% C.I. for the remaining one year on the amount due after 2 years, the interest being compounded half-yearly.
Find the total amount to be paid at the end of the three years.
Ashok invests a certain sum of money at 20% per annum, compounded yearly. Geeta invests an equal amount of money at the same rate of interest per annum compounded half-yearly. If Geeta gets Rs. 33 more than Ashok in 18 months, calculate the money invested.
At what rate of interest per annum will a sum of Rs. 62,500 earn a compound interest of Rs. 5,100 in one year? The interest is to be compounded half yearly.
In what time will Rs. 1,500 yield Rs. 496.50 as compound interest at 20% per year compounded half-yearly ?
Find the difference between compound interest and simple interest on Rs.12,000 and in `1 1/2` years at 10% compounded yearly.
Find the amount and the compound interest payable annually on the following :
Rs.24000 for 1`(1)/(2)` years at 7`(1)/(2)`% per annum.
[Hint : 1 year 146 days = `1(146)/(365)"year" = 1(2)/(5)"year"`]
Calculate the amount and compound interest to the nearest rupee on Rs 42000 for 2 years at 8% per annum, interest being payable half-yearly.
A man lends Rs 15000 at 10.5% per annum C.I., interest reckoned yearly, and another man lends the same sum at 10% per annum, interest being reckoned half-yearly. Who is the gainer at the end of one year and by how much?
Find the amount and the compound interest on the following :
Rs.15000 for 2years at 8% per annum compounded semi-annually.
