Advertisements
Advertisements
Question
On a certain sum of money, invested at the rate of 10 percent per annum compounded annually, the interest for the first year plus the interest for the third year is Rs. 2,652. Find the sum.
Solution
Let Principal = Rs.100
For 1st year
P = Rs. 100; R = 10 % and T = 1 year
Interest = Rs.`[100 xx 10 xx 1]/100` = Rs. 10
Amount = Rs. 100 + Rs. 10 = Rs. 110
For 2nd year
P = Rs. 110; R = 10 % and T = 1 year
Interest = Rs. `[110 xx 10 xx 1]/[100]` = Rs. 11
Amount = Rs. 110 + Rs. 11 = Rs. 121
For 3rd year
P = Rs. 121; R = 10 % and T = 1 year
Interest = Rs `[121 xx 10 xx 1]/[100]`= Rs. 12.10
Sum of C.I. for 1st year and 3rd year = Rs. 10 + Rs. 12.10 = Rs. 22.10
When sum is Rs. 22.10, principal is Rs. 100
When sum is Rs. 2,652, principal = Rs. `[100 xx 2652]/[22.10]`
= Rs. 12,000.
APPEARS IN
RELATED QUESTIONS
What will Rs 125000 amount to at the rate of 6%, if the interest is calculated after every 3 months?
Find the compound interest at the rate of 5% for three years on that principal which in three years at the rate of 5% per annum gives Rs 12000 as simple interest.
Rachana borrowed a certain sum at the rate of 15% per annum. If she paid at the end of two years Rs 1290 as interest compounded annually, find the sum she borrowed.
Kamala borrowed from Ratan a certain sum at a certain rate for two years simple interest. She lent this sum at the same rate to Hari for two years compound interest. At the end of two years she received Rs 210 as compound interest, but paid Rs 200 only as simple interest. Find the sum and the rate of interest.
A certain sum amounts to Rs. 5,292 in two years and Rs. 5,556.60 in three years, interest being compounded annually. Find: the original sum.
The compound interest, calculated yearly, on a certain sum of money for the second year is Rs. 1,089 and for the third year it is Rs. 1,197.90. Calculate the rate of interest and the sum of money.
What sum will amount of Rs. 6,593.40 in 2 years at C.I. , if the rates are 10 per cent and 11 per cent for the two successive years ?
On a certain sum of money, lent out at C.I., interests for first, second and third years are Rs. 1,500; Rs. 1,725 and Rs. 2,070 respectively. Find the rate of interest for the (i) second year (ii) third year.
A man borrowed Rs. 20,000 for 2 years at 8% per year compound interest. Calculate :
(i) the interest of the first year.
(ii) the interest of the second year.
(iii) the final amount at the end of the second year.
(iv) the compound interest of two years.
Calculate the compound interest on Rs. 5,000 in 2 years; if the rates of interest for successive years be 10% and 12% respectively.
Mohan borrowed Rs. 16,000 for 3 years at 5% per annum compound interest. Calculate the amount that Mohan will pay at the end of 3 years.
Rekha borrowed Rs. 40,000 for 3 years at 10% per annum compound interest. Calculate the interest paid by her for the second year.
Calculate the compound interest for the second year on Rs. 15000 invested for 5 years at 6% per annum.
A man invests Rs. 9600 at 10% per annum compound interest for 3 years. Calculate :
(i) the interest for the first year.
(ii) the amount at the end of the first year.
(iii) the interest for the second year.
(iv) the interest for the third year. the interest for the first year.
Calculate the difference between the compound interest and the simple interest on ₹ 8,000 in three years and at 10% per annum.
Rohit borrowed ₹ 40,000 for 2 years at 10% per annum C.I. and Manish borrowed the same sum for the same time at 10.5% per annum simple interest. Which of these two gets less interest and by how much?
Find the amount and the compound interest payable annually on the following :
Rs.25000 for 1`(1)/(2)` years at 10% per annum.
The simple interest on a certain sum of money at 4% p.a. for 2 years is Rs1500. What will be the compound interest on the same sum for the same time?
A man borrows Rs 62500 at 8% p.a., simple interest for 2 years. He immediately lends the money out at CI at the same rate and for same time. What is his gain at the end of 2 years?
The annual rate of growth in population of a town is 10%. If its present population is 26620, then the population 3 years ago was _________
If the compound interest is calculated quarterly, the amount is found using the formula __________
The difference between the C.I and S.I for 2 years for a principal of ₹ 5000 at the rate of interest 8% p.a is ___________
Find the compound interest for `2 1/2` years on ₹ 4000 at 10% p.a, if the interest is compounded yearly
The time taken for ₹ 4400 to become ₹ 4851 at 10%, compounded half yearly is _______
The cost of a machine is ₹ 18000 and it depreciates at `16 2/3 %` annually. Its value after 2 years will be ___________
Suppose for the principal P, rate R% and time T, the simple interest is S and compound interest is C. Consider the possibilities.
- C > S
- C = S
- C < S
Then
Compound interest is the interest calculated on the previous year’s amount.
Find the difference between Compound Interest and Simple Interest on Rs 45,000 at 12% per annum for 5 years.
