Advertisements
Advertisements
Question
Saurabh invests Rs. 48,000 for 7 years at 10% per annum compound interest. Calculate:
(i) the interest for the first year.
(ii) the amount at the end of second year.
(iii) the interest for the third year.
Solution
For 1st year :
P = Rs. 48,000; R = 10 % and T = 1 year
Interest = Rs. `[48,000 xx 10 xx 1]/[100]` = Rs. 4,800
Amount = Rs. 48,000 + Rs. 4,800 = Rs. 52,800
For 2nd year :
P = Rs. 52,800; R = 10 % and T = 1 year
Interest = Rs. `[52,800 xx 10 xx 1]/[100]`= Rs. 5,280
Amount = Rs. 52,800 + Rs. 5,280 = Rs. 58,080
For 3rd year :
P = Rs. 58,080; R = 10% and T = 1 year
Interest = Rs.`[58,080 xx 10 xx 1]/[100]` = Rs. 5,808
APPEARS IN
RELATED QUESTIONS
Calculate the amount and compound interest on Rs 10800 for 3 years at `12 1/2` % per annum compounded annually.
Calculate the amount and compound interest on Rs 8000 for 1 year at 9% per annum compound half yearly. (You could use the year by year calculation using SI formula to verify)
Find the difference between the compound interest and simple interest. On a sum of Rs 50,000 at 10% per annum for 2 years.
What will Rs 125000 amount to at the rate of 6%, if the interest is calculated after every 3 months?
The interest on a sum of Rs 2000 is being compounded annually at the rate of 4% per annum. Find the period for which the compound interest is Rs 163.20.
In how much time would Rs 5000 amount to Rs 6655 at 10% per annum compound interest?
The difference between the S.I. and C.I. on a certain sum of money for 2 years at 4% per annum is Rs 20. Find the sum.
In what time will Rs 1000 amount to Rs 1331 at 10% per annum, compound interest?
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.
A man borrows Rs.10,000 at 10% compound interest compounded yearly. At the end of each year, he pays back 30% of the sum borrowed. How much money is left unpaid just after the second year ?
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.
On a certain sum of money, invested at the rate of 10 percent per annum compounded annually, the interest for the first year plus the interest for the third year is Rs. 2,652. Find the sum.
A man borrowed Rs. 20,000 for 2 years at 8% per year compound interest. Calculate :
(i) the interest of the first year.
(ii) the interest of the second year.
(iii) the final amount at the end of the second year.
(iv) the compound interest of two years.
Calculate the amount and the compound interest on Rs. 12,000 in 2 years and at 10% per year.
Rekha borrowed Rs. 40,000 for 3 years at 10% per annum compound interest. Calculate the interest paid by her for the second year.
Calculate the difference between the compound interest and the simple interest on ₹ 7,500 in two years and at 8% per annum.
Calculate the difference between the compound interest and the simple interest on ₹ 8,000 in three years and at 10% per annum.
The annual rate of growth in population of a town is 10%. If its present population is 26620, then the population 3 years ago was _________
In how many years will ₹ 3375 become ₹ 4096 at `13 1/3` p.a if the interest is compounded half-yearly?
Find the C.I. on ₹ 15000 for 3 years if the rates of interest are 15%, 20% and 25% for the I, II and III years respectively
The number of conversion periods in a year, if the interest on a principal is compounded every two months is ___________
The sum which amounts to ₹ 2662 at 10% p.a in 3 years, compounded yearly is _________
Suppose a certain sum doubles in 2 years at r % rate of simple interest per annum or at R% rate of interest per annum compounded annually. We have ______.
The compound interest on Rs 50,000 at 4% per annum for 2 years compounded annually is ______.
To calculate the growth of a bacteria if the rate of growth is known, the formula for calculation of amount in compound interest can be used.
Find the difference between Compound Interest and Simple Interest on Rs 45,000 at 12% per annum for 5 years.
