Certain loan amount was repaid in two annual installments of Rs.1331/- each. If the rate of interest be 10% per annum Compounded annually the sum borrowed was
Principal = (P.W of Rs. 1331/- due 1 year hence) + (P.W of Rs. 1331/- due 2 years hence) = [1331/(1 + 10/100) + 1331/(1 + 10/100)2] = [1331/(110/100) + 1331/(110/100 × 110/100)]= 13310/11 + 133100/121 = 1210 + 1100 = Rs.2310/-
An amount at compound interest sums to Rs.17640/- in 2 years and to Rs.18522/- in 3 years at the same rate of interest. Find the rate percentage
Certain sum becomes 3 times it self at compound interest in 10 years. In how many years it becomes 9 times
What would be the compound interest on Rs.7700/- at 15 ¼% per annum for 2 years compounded annually
