Advertisements
Advertisements
Question
If the interest is compounded half yearly, calculate the amount when the Principal is Rs. 7,400, the rate of interest is 5% per annum and the duration is one year.
Solution
For half yearly payable
A = P `(1 + r/(2 xx 100))^(2 xx n)`
where P is principal r is rate p.a. and n is time in years.
A = 7400 `(1 + 5/200)^2`
= 7400 x `(205)/(200) xx (205)/(200)`
= ₹ 7774·63.
APPEARS IN
RELATED QUESTIONS
What sum of money will amount to Rs 9,447.84 in 3 years at 8% p.a. compound interest?
What sum of money will amount to Rs 7,128 in 2 years at compound interest, if the rates of interest are 8% and 10% for successive years?
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 cornpound interest of the following, when cornpounded annually:
Rs 20,000 for 2 years at `12 1/2` % p.a.
Calculate the amount and cornpound interest for the following, when cornpounded annually:
Rs 8,000 for `1 1/2` years at 12 % p.a.
Find the principal which will amount to Rs 22,344 in 2 years at compound interest if the rates of interest for the successive years are 12% and 14%?
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.
A sum of money placed at compound interest compounded annually amounts to Rs 26,460 in 2 years and to Rs 29,172.15 in 4 years. Calculate the rate of interest and the sum.
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.
