Calculate the amount and compound interest on
(a) ₹ 10,800 for 3 years at 12 % per annum compounded annually.
(b) ₹ 18,000 for 2 years at 10% per annum compounded annually.
(c) ₹ 62,500 for 1 years at 8% per annum compounded half yearly.
(d) ₹ 8,000 for 1 year at 9% per annum compounded half yearly. (You could use the year by year calculation using SI formula to verify)
(e) ₹ 10,000 for 1 year at 8% per annum compounded half yearly.
Kamala borrowed ₹ 26,400 from a Bank to buy a scooter at a rate of 15% p.a. compounded yearly. What amount will she pay at the end of 2 years and 4 months to clear the loan?
[Hint : Find A for 2 years with interest is compounded yearly and then find SI on the 2nd year amount for years)
Here, P = ₹ 26400, R =15% per annum
and n = 2 years 4 months =2 years.
Hence, Kamala will pay ₹ 36659.70 to the bank.
Fabina borrows ? 12,500 at 12% per annum for 3 years at simple interest and Radha borrows the same amount for the same time period at 10% per annum, compounded annually. Who pays more interest and by how much? .
In case of Fabina :
P = ₹ 12500, R =12% per annum and T =3 years. Then,
Hence, Fabina pays 362.50 more as interest ₹ (4500 – 4137.50), i.e., ₹ 362.50 more as interest.
I borrowed ₹ 12,000 from Jamshed at 6% per annum simple interest for 2 years. Had I borrowed this sum at 6% per annum compound interest, what extra amount would I have to pay?
Here, P = ₹ 12000, R = 6% per annum and T = 2 years.
So, I have to pay ₹ (1483.20 -1440), i.e., ₹ 43.20 in excess.
Vasudevan invested ₹ 60,000 at an interest rate of 12% per annum compounded half-yearly. What amount would he get
(i) after 6 months?
(ii) after 1 year.
Here, Principal =₹ 60000, Rate = 12% per annum = 6%per half-year.
(i) Time = 6 months = 1 half-year
Arif took a loan of ? 80,000 from a bank. If the rate of interest is 10% per annum, find the difference in amounts he would be paying after 1 years if the interest is 2
(i) compounded annually
(ii) compounded half-yearly.
Here, P = ₹ 80000
Rate = 10% per annum = 5% per half-year,
Time = 1 years = 3 half-years.
Maria invested ? 8,000 in a business. She would he paid interest at 5% per annum compounded annually. Find
(i) The amount credited against her name at the end of the second year.
(ii) The interest for the 3rd year.
Find the amount and the compound interest on ? 10,000 for 1 years at 10% per annum, compounded half-yearly. Would this interest be more than the interest he would get if it was compounded annually?
Here, Principal = ? 10000
Time = 1 years = 3 half years,
This interest is more than the interest that he would get if it was compounded annually.
Find the amount which Ram will get on ₹ 4096, if he gave it for 18 months at 12 % per annum, interest being compounded half yearly.
Here, Principal = ₹ 4096,
Time = 18 months = 3 half years
The population of a place increased to 54,000 in 2003 at a rate of 5% per annum
(i) find the population in 2001.
(ii) what would be its population in 2005?
In a Laboratory, the count of bacteria in a certain experiment was increasing at the rate of 2.5% per hour. Find the bacteria at the end of 2 hours if the count was initially 5,06,000.
We have, P = Original count of bacteria = 506000;
Rate of increase = R = 2.5% per hour, Time = 2 hours.
A scooter was bought at ? 42,000. Its value depreciated at the rate of 8% per annum. Find its value after one year.
We have, V0 = Initial value = ₹ 42000
R = Rate of depreciation = 8% p.a.