Advertisements
Advertisements
Question
The compound interest on a certain sum of money at 5% p.a. for 2 years is Rs 512.50. What will be the simple interest on the same sum for 3 years at 6% p.a.?
Solution
P =x ; t = 2 years ; r = 5%; A=Rs (x + 512.50)
`"A" = "P" (1 + "r"/100)^"n"`
Rs ( x +512.50)= x `(1 + 5/100)^2`
Rs ( x + 512.50) = x × 1.05 × 1.05
Rs ( x + 512.50) = 1.1025 x
0.1025 x = Rs 512.50
x = Rs 5,000
I =`("P" xx "r" xx "t")/100`
I = Rs `(5000 xx 6 xx 3)/100`
I = Rs 900
Simple interest will be Rs 900
APPEARS IN
RELATED QUESTIONS
Prashant borrowe Rs. 35000 at 12% p.a. compounded semi-annually. Find the amount he needs to pay back at the end of `1 1/2` years
Pradeep gave Rs.16000 to a friend for 1.5 years at 15% p.a. compounded semi-annually. Find the interest earned by him at the end of 1.5 years.
Rajeev borrowed Rs 15,000 from Sanjay at 12% p.a. compound interest. After 2 years Rajeev gave Rs 7,500 and a scooter to clear the account. Find the cost of the scooter.
What sum of money will amount to Rs 13,675.20 in 3 years at compound interest, if the rates of interest are 10%, 11% and 12% for the successive years?
The value of a 'Honda' bike depreciated by 16% in the first year and by 13% in the second year. Find the value of the bike if it depreciated by Rs 7,098 in the second year.
The cost of a machine dep reciated by Rs 2592 during the third year and by Rs 2332.80 during the fourth year. Calculate :
The cost at the end of the fourth year.
Rajan borrowed Rs 32,000 at 12% compound interest for 2 years. At the end of the first year he returned some amount and on paying Rs 17,920 at the end of the second year, he cleared the loan. Calculate the amount Rajan paid at the end of the first year.
What sum of money will amount to Rs 15,746.40 at 16% p.a. compounded half-yearly?
Calculate the rate percent at which Rs 15,000 will yield Rs 8,413.44 as compound interest in 3 years.
In what time will Rs 8,000 amount to Rs 12,167 at 15% per annum compounded annually?
