Advertisements
Advertisements
Question
Pooja borrowed Rs 15,000 from Sonali at 11% p.a. compound interest. If she repays Rs 7,550 at the end of first year and Rs 6,101 at the end of second year, find the amount Pooja needs to give to Sonali at the end of third year to clear her debt.
Solution
P = Rs. 15,000, R = 11 °/o p.a.
Interest for first year
`= ("Rs" 15000 xx 11 xx 1)/100`
= Rs, 1650
Amount due after 1st year
= Rs. 15,000 + Rs. 1,650 =Rs 16,650
Amount paid after 1st year= Rs. 7,550
Balance amount= Rs. 16,650 - Rs. 7,550 =Rs. 9, 100
Interest for second year
`=("Rs" 9100 xx 11 xx 1)/100`
=Rs 1001
Amount paid after 2nd year = Rs. 61 10 1
Balance amount = Rs. 10, 101 - Rs. 61 101 =Rs. 4,000
Interest for third year
= `("Rs" 4000 xx 11 xx 1)/100`
= Rs 440
Amount due after 3rd year
= Rs. 4,000 + Rs. 440 =Rs 4,440
Pooja needs to pay Rs 4,440 to Sonali at the end of third year to clear her debt.
APPEARS IN
RELATED QUESTIONS
Calculate the amount and the compound interest for the following:
Rs. 7500 at 12% p.a. in 3 years.
A sum of Rs. 65000 is invested for 3 years at 8 % p.a. compound interest.
Find the sum due at the end of the first year.
Alisha invested Rs 75000 for 4 years at 8 % p.a. compound interest ,
Find the amount at the end of third year.
Harijyot deposited Rs 27500 in a deposite scheme paying 12 % p.a. compound interest . If the duration of the deposite is 3 years , calculate :
The amount received by him at the end of three years.
Natasha gave Rs.6O,OOO to Nimish for 3 years at 15%,p.a. compound interest.
Calculate to the nearest rupee :
The amount Natasha receives at the end of 3 years.
Natasha gave Rs.6O,OOO to Nimish for 3 years at 15%,p.a. compound interest.
Calculate to the nearest rupee :
The Compound Interest paid by Nimish
Rajan borrowed Rs 90,000 at 15% p.a. compound interest. If he repays Rs 35,000 at the end of each year, find the amount of loan outstanding at the beginning of the fourth year.
Ramesh saves Rs 4,000 every year and invests it at 10% p.a. compound interest. Calculate his savings at the end of the third year.
Calculate the amount and cornpound interest for the following, when cornpounded annually:
Rs 25,000 for 3 years at 8 % p.a.
A manufacturer estimates that his machine depreciates by 15% of its value at the beginning of the year. Find the original value (cost) of the machine, if it depreciates by Rs. 5,355 during the second year.
