A sum of money lent at compound interest for 2 years at 20% per annum would fetch Rs.482 more, if the interest was payable half yearly than if it was payable annually . The sum is
C.I. when compounded half yearly =
C.I. when compounded annually =
A sum of money amounts to Rs.6690 after 3 years and to Rs.10,035 after 6 years on compound interest.find the sum.
Let the sum be Rs.P.thenP(1+R/100)^3=6690…(i) and P(1+R/100)^6=10035…(ii)On dividing,we get (1+R/100)^3=10025/6690=3/2.Substituting this value in (i),we get:P*(3/2)=6690 or P=(6690*2/3)=4460Hence,the sum is rs.4460.
What is the rate of interest p.c.p.a.?
I. An amount doubles itself in 5 years on simple interest.
II. Difference between the compound interest and the simple interest earned on a certain amount in 2 years is Rs. 400.
III. Simple interest earned per annum is Rs. 2000
Thus I only or (II and III) give answer.
Correct answer is (D)
Find compound interest on Rs. 8000 at 15% per annum for 2 years 4 months, compounded annually
Time = 2 years 4 months = 2(4/12) years = 2(1/3) years.Amount = Rs'. [8000 X (1+(15/100))^2 X (1+((1/3)*15)/100)]=Rs. [8000 * (23/20) * (23/20) * (21/20)]= Rs. 11109. .:. C.I. = Rs. (11109 - 8000) = Rs. 3109.
What annual payment will discharge a debt of Rs.7620 due in 3years at % per annum interest?
Let each installment be Rs.x. Then,
(P.W. of Rs.x due 1 year hence) + (P.W of Rs.x due 2 years hence) + (P.W of Rs. X due 3 years hence) = 7620.
Amount of each installment = Rs.3430
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