A person borrows a certain amount from his friend at the rate of 15% per annum compound interest, interest being compounded annually and agrees to return it in 2 equal yearly installments of Rs.529/- each. Find the amount borrow.
The Compound interest of Rs.10240/- at 6 ¼% per annum for 2 years 292days is:
The present worth of Rs.9826/- due 2 years at 6 ¼% per annum compound interest is:
The Compound interest in a particular amount for the first year at 8% is Rs.50/-.The compound interest for 2 years at the same rate on the amount will be?
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
The difference of two successive amounts must be the simple interest in 1 year onthe lower amount of money. S.I = 18522/- - 17640/- = Rs. 882/- Rate of interest = (882/17640) × (100/1) => 8820/1764 = 5% Principal = Amount/(1 + R/100)n = 17640/(1 + 5/100)2 = 17640/(21/20 × 21/20) = 17640/(1.05 × 1.05) = 17640/1.1025 = 16000Thus the principal is Rs.16000/- and the rate of interest is 5%
Certain sum becomes 3 times it self at compound interest in 10 years. In how many years it becomes 9 times
P(1 + R/100)10 = 3P ∴ P(1 + R/100)10 = 3 Let P(1 + R/100)n = 9P ∴ (1 + R/100)n = 9 ∴ 32 = [(1 + R/100)10]2 ∴ (1 + R/100)n => (1 + R/100)20 ∴ n = 20 Years.
What would be the compound interest on Rs.7700/- at 15 ¼% per annum for 2 years compounded annually
Principal = Rs. 7700/- time = 2 years rate = 15 ¼% Amount = P(1+R/100)n = 7700 × (1 + 61/(4 × 100)2) = 7700 × [(1 + 61/400)2] = 7700 × [(461/400)2)] = 7700 × 461/400 × 461/400 = 7700 × 1.1525 × 1.1525 = 7700 × 1.32825625 = 10227.573125 C.I = 10227.573125 - 7700 = 2527.57/-