Advertisements
Advertisements
Question
What sum of money will amount to Rs 9,447.84 in 3 years at 8% p.a. compound interest?
Solution
Here P = x; A= Rs 9, 447 .84; t = 3 years; r = 8 % p.a
`therefore "A" = "P" (1 + "r"/100)^"n"`
`=>"Rs" 9447.84 = "x"(1 + 8/100)^3`
`=> "Rs" 9447.84 = "x" (108/100)^3 `
`=> "Rs" 9447.84 = "x" xx 27/25 xx 27/25 xx 27/25`
`=> "Rs" 9447.84 = "x" xx 19683/15625`
`=> "x" = "Rs" (9447.84 xx 15625)/19683`
`=> "x" = "Rs" 7500`
The sum of money will be Rs 7,500.
APPEARS IN
RELATED QUESTIONS
What sum of money will amount to Rs 7,128 in 2 years at compound interest, if the rates of interest are 8% and 10% for successive years?
What sum of money will amount to Rs 3,326.40 in 3 years at compound interest, if the rates of interest are 8%, 10% and 12% for the successive years?
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 machine depreciates by 15% in the first year and by 12% in the second year. Find the value of the machine if its depreciation in the second year was Rs 1,632.
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.
Ramesh borrowed Rs 12,000 at 15% compound interest for 2 years. At the end of the first year he returned some amount and on paying Rs 9,200 at the end of the second year, he cleared the loan. Calculate the amount of money Ramesh returned 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?
If the interest is compounded half yearly, calculate the amount when the Principal is Rs. 7,400, the rate of interest is 5% per annum and the duration is one year.
The population of a city is 1,25,000. If the annual birth rate and death rate are 5.5% and 3.5% respectively. Calculate the population of the city after 3 years.
The S.I. and C.I. on a sum of money for 2 years is Rs. 200 and 210 respectively. If the rate of interest is the same. Find the sum and rate.
