Advertisements
Advertisements
Question
Find the amount and the compound interest on ₹ 16,000 for 3 years at 5% per annum compounded annually.
Solution
Principal (P) = ₹16,000
Time (t) = 3 years
Rate (r) = 5%
`"Amount" = "Principal"xx(1+R/100)^n`
`= 16000xx(1+5/100)^3`
`= 16000xx(21/20)^3`
`=16000xx21/20xx21/20xx21/20`
= ₹18,522
C.I. = Amount − Principal
= ₹18,522 − ₹16,000
= ₹2522
APPEARS IN
RELATED QUESTIONS
Divide Rs. 15,600 into two parts such that the interest on one at 5 percent for 5 years may be equal to that on the other at `4 1/2` percent for 6 years.
A person invests Rs. 5,000 for two years at a certain rate of interest compounded annually. At the end of one year, this sum amounts to Rs. 5,600. Calculate :
(i) the rate of interest per year.
(ii) the amount at the end of the second year.
Find the amount and the C.I. on ₹ 12,000 at 10% per annum compounded half-yearly.
Find the amount and the C.I. on ₹ 8,000 in `1 1/2` years at 20% per year compounded half-yearly.
Find the amount and the compound interest on ₹ 24,000 for 2 years at 10% per annum compounded yearly.
Find the amount and the compound interest on ₹ 20,000 for `1 1/2` years at 10% per annum compounded half-yearly.
Find the amount and the compound interest on ₹ 32,000 for 1 year at 20% per annum compounded half-yearly.
