Advertisements
Advertisements
Question
On what sum of money will the compound interest for `1 1/2` years at 16% p.a. compounded half-yearly amount to Rs 649.28?
Solution
P =x ; t = `1 1/2 ` years = 3 x 6 months ; r = 16 % compounded half-yearly =`16/2` % = 8% ; A = Rs (x + 649.28)
`"A" = "P" (1 + "r"/100)^"n"`
Rs (x + 649.28) = x `(1 + 8/100)^3`
Rs (x + 649.28) =x × 1.08 × 1.08 × 1.08
Rs (x + 649.28) = 1.259712 x
0.259712 x = Rs 649.28
x = Rs 2,500
On Rs 2,500 the C.I. for `1 1/2` years at 16% compounded half-yearly will be Rs 649.28
APPEARS IN
RELATED QUESTIONS
Prashant borrowe Rs. 35000 at 12% p.a. compounded semi-annually. Find the amount he needs to pay back at the end of `1 1/2` years
What sum of money will amount to Rs 13,675.20 in 3 years at compound interest, if the rates of interest are 10%, 11% and 12% for the successive years?
The value of a machine depreciates by 15% in the first year and by 12% in the second year. Find the value of the machine if its depreciation in the second year was Rs 1,632.
The cost of a scooter depreciated by Rs 5100 during the second year and by Rs 4,335 during the third year. Calculate
the rate of depreciatlon
The cost of a machine depreciated by Rs 2592 during the third year and by Rs 2332.80 during the fourth year. Calculate :
The rate of depreciation.
What sum of money will amount to Rs 18, 792 in `1 1/2` years at 16% p.a. compounded yearly?
What sum of money will amount to Rs 15,746.40 at 16% p.a. compounded half-yearly?
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.
The cost of a machine depreciates by 10% every year. If its present worth is Rs.18,000; what will be its value after three years?
The S.I. and C.I. on a sum of money for 2 years is Rs. 200 and 210 respectively. If the rate of interest is the same. Find the sum and rate.
