Reena took a loan of Rs. 1200 with simple interest for as many years as the rate of interest. If she paid Rs. 432 as interest at the end of the loan period, what was the rate of interest?
Let rate = R% and time = R years.
A certain sum is invested for 2 years in scheme M at 20% p.a. compound interest (compounded annually), Same sum is also invested for the same period in scheme N at k% p.a. simple interest. The interest earned from scheme M is twice of that earned from scheme N. What is the value of k?
Interest earned in scheme M =
P1 + 201002 - 1 = 11P25
Interest earned in scheme N =
P x k x 2100 = Pk50
Now, from the given data,
11P25 = 2 x Pk50
k = 11
A sum is equally invested in two different schemes on CI at the rate of 15% and 20% for two years. If interest gained from the sum invested at 20% is Rs. 528.75 more than the sum invested at 15%, find the total sum?
Let Rs. K invested in each scheme
Two years C.I on 20% = 20 + 20 + 20x20/100 = 44%
Two years C.I on 15% = 15 + 15 + 15x15/100 = 32.25%
(P x 44/100) - (P x 32.25/100) = 528.75
=> 11.75 P = 52875
=> P = Rs. 4500
Hence, total invested money = P + P = 4500 + 4500 = Rs. 9000.
What is the interest rate per annum, if a sum of money invested at compound interest amount to Rs. 2400 in 3 years and in 4 years to Rs. 2,520?
Let 'R%' be the rate of interest
From the given data,
25202400 = 1 + R10041 + R1003⇒1 + R100 = 6360⇒R = 5
Hence, the rate of interest R = 5% per annum.
A sum of Rs. 8,000 is deposited for 3 years at 5% per annum compound interest (compounded annually). The difference of interest for 3 years and 2 years will be
Given principal amount = Rs. 8000
Time = 3yrs
Rate = 5%
C.I for 3 yrs = 8000 x 105100 x 105100 x 105100 - 8000= Rs. 1261
Now, C.I for 2 yrs = 8000 x 105100 x 105100= Rs. 820
Hence, the required difference in C.I is 1261 - 820 = Rs. 441
Simple interest on a certain sum at 7% per annum for 4 years is Rs. 2415. What will be the compound interest on the same principal at 4% per annum in two years?
We know that,
S.I. = PTR100⇒ P = S.I x 100T x RAnd also,C.I = P1 + R100n- 1
From given data, P = Rs. 8625
Now, C.I = 86251+41002-1= 862526252-1= 8625676625-1= 8625 x 51625C.I = Rs. 703.80
Find the compound interest on Rs. 6,500 for 4 years if the rate of interest is 10% p.a. for the first 2 years and 20% per annum for the next 2 years?
We know the formula for calculating
The compound interest C = P1 + r100n - 1 where P = amount, r = rate of interest, n = time
Here P = 5000, r1 = 10, r2 = 20
Then C = 65001 + 101002 x 1 + 201002 - 1= 6500 x 18562500= 65 x 185625
C = Rs. 4826.
What is the difference between the compound interests on Rs. 5000 for 11⁄2 years at 4% per annum compounded yearly and half-yearly?
Compound Interest for 1 1⁄2 years when interest is compounded yearly = Rs.(5304 - 5000)
Amount after 11⁄2 years when interest is compounded half-yearly Compound Interest for 1 1⁄2 years when interest is compounded half-yearly = Rs.(5306.04 - 5000)
Difference in the compound interests = (5306.04 - 5000) - (5304 - 5000)= 5306.04 - 5304 = Rs. 2.04
The difference between simple interest and compound interest of a certain sum of money at 20% per annum for 2 years is Rs. 56. Then the sum is :
We know thatThe Difference between Compound Interest and Simple Interest for n years at R rate of interest is given by C.In - S.In = PR100n
Here n = 2 years, R = 20%, C.I - S.I = 56
56 = P201002=> P = 56 x 52=> P = 56 x 25=> P = Rs. 1400
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