Advertisements
Advertisements
Question
Rachana borrowed a certain sum at the rate of 15% per annum. If she paid at the end of two years Rs 1290 as interest compounded annually, find the sum she borrowed.
Solution
Let the money borrowed by Rachana be Rs x.
Then, we have:
\[CI = P \left( 1 + \frac{R}{100} \right)^n - P\]
\[1, 290 = x\left[ \left( 1 + \frac{15}{100} \right)^2 - 1 \right]\]
\[1, 290 = x\left[ 0 . 3225 \right]\]
\[x = \frac{1, 290}{0 . 3225}\]
\[ = 4, 000\]
Thus, Rachana borrowed Rs 4, 000.
APPEARS IN
RELATED QUESTIONS
Simple interest on a sum of money for 2 years at \[6\frac{1}{2} %\] per annum is Rs 5200. What will be the compound interest on the sum at the same rate for the same period?
Kamala borrowed from Ratan a certain sum at a certain rate for two years simple interest. She lent this sum at the same rate to Hari for two years compound interest. At the end of two years she received Rs 210 as compound interest, but paid Rs 200 only as simple interest. Find the sum and the rate of interest.
The value of a machine depreciated by 10% per year during the first two years and 15% per year during the third year. Express the total depreciation of the machine, as percent, during the three years.
Rachna borrows Rs. 12,000 at 10 percent per annum interest compounded half-yearly. She repays Rs. 4,000 at the end of every six months. Calculate the third payment she has to make at end of 18 months in order to clear the entire loan.
Calculate the compound interest on Rs. 5,000 in 2 years; if the rates of interest for successive years be 10% and 12% respectively.
Calculate the compound interest on Rs. 15,000 in 3 years; if the rates of interest for successive years be 6%, 8%, and 10% respectively.
A man invests Rs. 9600 at 10% per annum compound interest for 3 years. Calculate :
(i) the interest for the first year.
(ii) the amount at the end of the first year.
(iii) the interest for the second year.
(iv) the interest for the third year. the interest for the first year.
A certain sum of money invested for 5 years at 8% p.a. simple interest earns an interest of ₹ 12,000. Find:
(i) the sum of money.
(ii) the compound interest earned by this money in two years and at 10% p.a. compound interest.
The difference between C.I. payable annually and S.I. on Rs.50,000 for two years is Rs.125 at the same rate of interest per annum. Find the rate of interest.
Find the difference between Compound Interest and Simple Interest on Rs 45,000 at 12% per annum for 5 years.
