Rs. 4800 becomes Rs. 6000 in 4 years at a certain rate of compound interest. What will be sum after 12 years?
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Solution
Amount = 6000 Rs.
Principal = 4800
Time = 4 years
So, after 12 year it will become =
= Rs. 9375
A sum of money lent, at 20% per annum for 2 years, would fetch Rs. 482 more if interest is compounded half yearly. Find sum.
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Solution
Ist case → when interest paid yearly
= interest for 2 years
When interest paid half yearly then
Interest =
Given →
⇒ P × 0.0241 = 482
Rs.
At what percent compound interest will Rs. 625 amount to 676 in 2 years?
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Solution
Principal = 625 Rs.
Amount = 676 Rs.
Time = 2 years
⇒ R = 4% (Comparing)
The compound interest on Rs. 10,000 in 9 months at 4%, per annum, interest payable quarterly-
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Solution
Principal = 10,000 Rs.
Time = 9 months
Rate = 4 % [per annum]
So, time = 3
Rate =
CI ⇒
⇒ Rs. 303.01
If the rate of simple interest is lowered down from 11.5% to 10%, a person loses Rs. 55.5 in one year, then his capital amount is. (In rs.)
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Solution
Let principal → P Rs., Time = 1 year
Rs.
A sum becomes Rs. 2200 after 3 years and Rs. 4400 after 6 years on certain compound rate of interest. Find the sum .
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Solution
Principal = P
.....(i)
..... (ii)
Equation (ii) ÷ equation (i) :
From (i) ⇒ 2200 = P × 2
⇒ P = 1100
On a sum of money, the simple interest for 2 years is Rs. 320, While compound interest is Rs. 340. If rate of interest is same in both cases than its value is-
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Solution
Difference between CI and SI = 340 – 320 = Rs. 20
Time = 2 years
For 2 years rate =
A certain sum of money becomes Rs. 242 in 2 years at 10% per annum compound interest. Find the sum.
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Solution
⇒ Rs. 200
The compound interest on Rs. 20,000 at 8% per annum is Rs. 3328. What is the period (in years)?
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Solution
Amount = 20,000 + 3328 = Rs. 23328
23328 = 20,000
T = 2 years