Advertisements
Advertisements
Question
On what sum of money will the compound interest for 2 years at 8% per annum amount to Rs 1399.68?
Solution
P = x ; t = 2 years ; r = 8 % ; A = Rs (x + 1399.68)
`"A" = "P" (1 + "r"/100)^"n"`
Rs (x + 1399.68) = x `(1 + 8/100)^2`
Rs (x + 1399.68) =x × 1.08 × 1.08
Rs (x + 1399.68) = 1.1664 x
0.1664 x = Rs 1399.68
x = Rs 81411.538
On Rs 8,411.538 the C.I. for 2 years at 8% will be Rs 1399.68
APPEARS IN
RELATED QUESTIONS
Manoj borrowed Rs 25,000 from Sohan at 8.4 % p.a. compound interest. After 2 years Manoj cleared Rs 17,500 and a motorcycle. Find the cost of the motorcycle.
Mr. Chatterjee borrowed Rs 50,000 in compound interest from Mr. Patel for 2 years when the rates of interest for the successive years were `7 1/2 %` and `9 1/4 %`. If Mr. Chatterjee returned Rs 27, 750 at the end of the first year, find the amount he needs to return at the end of the seoond year to clear the loan.
The cost of a machine dep reciated by Rs 2592 during the third year and by Rs 2332.80 during the fourth year. Calculate :
The cost at the end of the fourth year.
Rajan borrowed Rs 32,000 at 12% compound interest for 2 years. At the end of the first year he returned some amount and on paying Rs 17,920 at the end of the second year, he cleared the loan. Calculate the amount Rajan paid at the end of the first year.
Calculate the amount and the compound interest for the following:
Rs 12,500 for 3 years if the rates for the successive years are 8%, 9% and 10% respectively.
On what sum of money will the compound interest for `2 1/2` years at 12% per annum amount to Rs 8,241.60?
On what sum of money will the compound interest for 2 years at 10% p.a. compounded half-yearly amount to Rs 3,448.10?
Calculate the rate percent at which Rs 15,000 will yield Rs 8,413.44 as compound interest in 3 years.
A sum of money placed at compound interest compounded annually amounts to Rs 31,360 in 2 years and to Rs 35,123.20 in 3 years. Calculate the rate of interest and the sum.
The compound interest on a certain sum of money at 5% p.a. for 2 years is Rs 512.50. What will be the simple interest on the same sum for 3 years at 6% p.a.?
