Advertisements
Advertisements
Question
The compound interest on ₹ 8000 at 10% p.a for 1 year, compounded half yearly is ____________
Solution
₹ 820
Explanation;
Hint:
Compound interest (C.I.) = Amount – Principal
Amount = `"P"(1 + "r"/100)^(2"n")` ...[2n as it is compounded half yearly]
r = 10% p.a, for half yearly r = `10/2` = 5
∴ A = `8000(1 + 5/100)^(2 xx 1)`
= `8000 xx (105/100)^2`
= 8820
C.I. = Amount – Principal
= 8820 – 8000
= ₹ 820
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?
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.
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.
Geeta borrowed Rs. 15,000 for 18 months at a certain rate of interest compounded semi-annually. If at the end of six months it amounted to Rs. 15,600; calculate :
(i) the rate of interest per annum.
(ii) the total amount of money that Geeta must pay at the end of 18 months in order to clear the account.
Find the sum, invested at 10% compounded annually, on which the interest for the third year exceeds the interest of the first year by Rs. 252.
A sum of Rs. 8,000 is invested for 2 years at 10% per annum compound interest. Calculate:
(i) interest for the first year.
(ii) principal for the second year.
(iii) interest for the second year.
(iv) the final amount at the end of the second year
(v) compound interest earned in 2 years.
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 simple interest and compound interest compounded annually on a certain sum is Rs.448 for 2 years at 8 percent per annum. Find the sum.
The difference between the C.I and S.I for 2 years for a principal of ₹ 5000 at the rate of interest 8% p.a is ___________
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
