Advertisements
Advertisements
Question
On what sum will the compound interest at 5% per annum for 2 years compounded annually be Rs 164?
Solution
Let the sum be Rs x.
We know that:
CI = A - P
\[ = P \left( 1 + \frac{R}{100} \right)^n - P\]
\[ = P\left[ \left( 1 + \frac{R}{100} \right)^n - 1 \right]\]
\[164 = x\left[ \left( 1 + \frac{5}{100} \right)^2 - 1 \right]\]
\[164 = x\left[ \left( 1 . 05 \right)^2 - 1 \right]\]
\[x = \frac{164}{0 . 1025}\]
\[ = 1, 600\]
Thus, the required sum is Rs 1, 600.
APPEARS IN
RELATED QUESTIONS
Vasudevan invested Rs 60000 at an interest rate of 12% per annum compounded half yearly. What amount would he get
(1) after 6 months?
(2) after 1 year?
Kamal borrowed Rs 57600 from LIC against her policy at \[12\frac{1}{2} \%\] per annum to build a house. Find the amount that she pays to the LIC after \[1\frac{1}{2}\] years if the interest is calculated half-yearly.
Find the compound interest on Rs 15625 for 9 months, at 16% per annum, compounded quarterly.
Find the amount of Rs 12500 for 2 years compounded annually, the rate of interest being 15% for the first year and 16% for the second year.
Ramu borrowed Rs 15625 from a finance company to buy a scooter. If the rate of interest be 16% per annum compounded annually, what payment will he have to make after \[2\frac{1}{4}\] years?
A sum of money was lent for 2 years at 20% compounded annually. If the interest is payable half-yearly instead of yearly, then the interest is Rs 482 more. Find the sum.
A certain sum amounts to Rs 5832 in 2 years at 8% compounded interest. Find the sum.
Sum of money amounts to Rs 453690 in 2 years at 6.5% per annum compounded annually. Find the sum.
The compound interest on Rs 8,000 for one year at 16% p.a. compounded half yearly is ______, given that (1.08)2 = 1.1664.
If principal = Rs 1,00,000. rate of interest = 10% compounded half-yearly. Find amount after one year.
