Advertisements
Advertisements
Question
Priyanka lends Rs.15,500 at 10% for the first year, at 15% for the second year and at 20% for the third year. If the rates of interest are compounded yearly, find the difference between the compound interest of the second year and the third year.
Solution
For 1st year : P = Rs.15500, R = 10% and T = 1 year
Interest = Rs.`(15500 xx 10 xx 1)/(100)`
= Rs.1550
Amount
= Rs.15500 + Rs.1550
= Rs.17050
For 2nd year : P = Rs.17050, R = 15% and T = 1 year
Interest = Rs.`(17050 xx 15 xx 1)/(100)`
= Rs.2557.50
Amount
= Rs.17050 + Rs.2557.50
= Rs.19607.50
For 3rd year : P = Rs.19607.50; R = 20% and T = 1 year
= Rs.`(19607.50 xx 20 xx 1)/(100)`
= Rs.3921.50
Amount
= Rs.19607.50 + Rs.3921.50
= Rs.23529
Difference between the C.I. of the 2nd year and the 3rd year
= Rs.(3921.50 - 2557.50)
= Rs.1364.
APPEARS IN
RELATED QUESTIONS
Calculate the amount and the compound interest for the following:
Rs.17,500 at 12°10 p.a. in 3 years
Calculate the amount and the compound interest for the following:
Rs.10,000 at 8°/o p.a. in `2 1/4` years
Calculate the amount and the compound interest for the following:
Rs.22, 500 at 12 °/o p.a. in `1 3/4` years
The value of a car depreciated by 10% in the first 2 years and by 8% in the third year. Express the total depreciation of the car as a single per cent during the three years.
A sum of money is invested at 10% per annum compounded half yearly. If the difference of amounts at the end of 6 months and 12 months is Rs.189, find the sum of money invested.
Rohit borrows Rs. 86,000 from Arun for two years at 5% per annum simple interest. He immediately lends out this money to Akshay at 5% compound interest compounded annually for the same period. Calculate Rohit's profit in the transaction at the end of two years.
Rakesh invests Rs.25600 at 5% per annum compound interest payable annually for 3 years. Find the amount standing to his credit at the end of the second year.
How much will Rs 14000 amounts to 2 years at compound interest, if the rates for the successive years be 5% and 8% respectively?
Find the difference between the compound interest and simple interest on Rs 20,000 at 12% per annum for 3 years, the compound interest being payable annually.
How much will Rs 25000 amount to in 2 years at compound interest, if the rates for 1st and 2nd years be 4% and 5% p.a. respectively?
