Advertisements
Advertisements
Question
Calculate the amount of Rs. 15,000 is lent at compound interest for 2 years and the rates for the successive years are 8% and 10% respectively.
Solution
Given : P = Rs. 15,000; n = 2 years; r1 = 8 % and r2 = 10%
Amount = `"P"( 1 + r_1/100)( 1 + r_2/100)`
= `15000( 1 + 8/100 )( 1 + 10/100)`
= `15,000(27/25)(11/10)`
= Rs. 17,820.
APPEARS IN
RELATED QUESTIONS
What sum of money will amount to Rs. 5,445 in 2 years at 10% per annum compound interest?
On what sum of money will the compound interest for 2 years at 5% per annum amount to Rs. 768.75?
On a certain sum, the compound interest in 2 years amounts to Rs. 4,240. If the rate of interest for the successive years is 10% and 15% respectively, find the sum.
At what per cent per annum will Rs. 6,000 amount to Rs. 6,615 in 2 years when interest is compounded annually?
At what rate percent compound interest, does a sum of money become 1.44 times of itself in 2 years?
At what rate percent will a sum of Rs. 4,000 yield Rs.1,324 as compound interest in 3 years?
A person invests Rs5,000 for three years at a certain rate of interest compounded annually. At the end of two years this sum amounts to Rs6,272. Calculate :
(i) the rate of interest per annum.
(ii) the amount at the end of the third year.
Divide Rs. 28,730 between A and B so that when their shares are lent out at 10% compound interest compounded per year, the amount that A receives in 3 years is the same as what B receives in 5 years.
A sum of Rs 44,200 is divided between John and Smith, 12 years and 14 years old respectively, in such a way that if their portions be invested at 10% per annum compound interest, they will receive equal amounts on reaching 16 years of age.
(i) What is the share of each out of Rs44,200 ?
(ii) What will each receive, when 16years old ?
Find the difference between compound interest and simple interest on Rs. 8,000 in 2 years and at 5% per annum.
