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Compound Interest
1. Calculate Compound Interest and amount on Rs 4500 at 10 % per annum in 3 years.
2. Calculate Compound Interest and amount on Rs 625 for 2 years at 9 %, compounded half-yearly.
3. Calculate Compound Interest on Rs 8000 for 9 months at 20 % per annum, compounded quartely .
4. What sum of money becomes Rs. 9261 in 3 years at 5 % per annum, compounded annually ?
5. What will Rs 25000 amounts to in 2 years at Compound Interest if the rates for successive years be 4 % and 5 % per year.
6. A sum of money amounts to Rs 6690 after 3 years and to Rs 10035 after 6 years on compound interest. Calculate the sum of ...
7. A man borrows Rs 2500 at 5 % simple interest for 2 years. He immediately lends this money at compound interest at the same ...
8. The difference between the compound interest and the simple interest on a certain sum at 10 % per annum for 2 years is Rs. ...
9. If the compound interest on a certain sum for 3 years at 10 % per annum be Rs. 331 , what would be the simple interest ?
10. A sum of money 2 times itself at compound interest in 15 years. In how many years, it will become 8 times of itself ?
Problem 6 of 10
6. A sum of money amounts to Rs
after
years and to Rs
after
years on compound interest. Calculate the sum of money.
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Compound Interest
6. A sum of money amounts to Rs 6690 after 3 years and to Rs 10035 after 6 years on compound interest. Calculate the sum of money.
For `N = 3, A = "Rs." 6690`
`A = P (1 + R/100)^N`
`P (1 + R/100) ^ 3 = 6690 ->(1)`
For `N = 6, A = "Rs." 10035`
`A = P (1 + R/100)^N`
`P (1 + R/100) ^ 6 = 10035 ->(1)`
On dividing `(2)` by `(1)`, we get
`(1 + R/100) ^ 3 = 10035 / 6690 = 3 / 2`
putting this value in `(1)`, we get
`=> P = 4460`
The sum of money is Rs. `4460` .
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