Advertisements
Advertisements
Question
In what time will Rs. 1500 yield Rs. 496.50 as compound interest at 10% per annum compounded annually?
Solution
Given P = Rs. 1500, I = 496.50, R = 10%
A = P+I
⇒ A =Rs. 1500+Rs. 496.50=Rs. 1996.50
`A = P(1 + R/100)^n`
`=> 1996.50 = 1500 (1 + 10/100)^n`
`=> 1996.50/1500 = (1 +1/10)^n`
`=> 1.331 = (1.1)^n`
`=> (1.1)^3 = (1.1)^n`
`=> n = 3`
APPEARS IN
RELATED QUESTIONS
Nikita invests Rs. 6000 for two years at a certain rate of interest compounded annually. At the end of the first year, it amounts to Rs. 6720. Calculate:
1) the rate of interest.
2) the amount at the end of the second year.
Calculate the amount and the compound interest for the following:
Rs.22, 500 at 12 °/o p.a. in `1 3/4` years
The value of a machine depreciates by 10%, 12% and 15% in the first 3 years. Express the total depreciation of the machine as a single per cent during the three years.
The value of a refrigerator depreciates by 8% of its value at the beginning of the year. Find the original value of the refrigerator if it depreciated by Rs 2,392 in the second year.
Find the compound interest to the nearest rupee on Rs. 10,800 for `2 1/2` years at 10% per annum.
A sum of money is invested at 10% per annum compounded half yearly. If the difference of amounts at the end of 6 months and 12 months is Rs.189, find the sum of money invested.
Nikita invests Rs.6,000 for two years at a certain rate of interest compounded annually. At the end of first year it amounts to Rs.6,720. Calculate:
(a) The rate of interest.
(b) The amount at the end of the second year.
Find the amount and the compound interest payable annually on:
Rs.17500 for 3 years at 8%, 10% and 12% for the successive years.
Calculate the amount and compound interest on Rs 20000 for 3 years at 10% per annum, interest being payable annually.
A man invests Rs 24000 for two years at compound interest, If his money amounts to Rs 27600 after one year, find the amount at the end of second year.
