Question
Find the compound Interest on Rs. 8,000 @15 % p.a for 2 years 4 month Compounded annually?
Solution
C.I for 1 st year = (8000 × 15 × 1)/100 =1200 C.I for 2nd year = (9200 × 15 × 1)/100 = 1380 C.I for 1/3 year = (10580 × 15 × 1)/(100 × 3) = 529 Total C. I = 1200 + 1380 + 529 = Rs. 3109 Alternate Method ; If time is given in ratio (a + 1/b) years, then {Amount = Principal(1+ R/100)a (1+R/100 × 1/b)} Here a= 2 & b =3 A= 8000 (1+15/100)2 (1+15/100×1/3) = 8000 × 23/20 × 23/20 × 21/20 = 11109 C.I = 11109 - 8000 C.I = Rs. 3109
More Simple and compound interest Questions
- Mark invested Rs 15,000 in a scheme at simple interest 20% per annum. After three years he withdrew the principal amount plus invested the entire amount in...
- Pawan invested Rs. 1200 for 4 months, Qureshi invested Rs. 1600 for 6 months, and Raju invested Rs. 2000 for 12 months in a business. By what percentage is...
- Ravi invested Rs. 10,200 at 20% p.a. for 2 years and Rs. 11,500 at 28% p.a. for 2 years on simple interest. What is the total interest he earned?
- At what % of simple interest per annum will Rs. 320 amount to Rs. 480 in five years?
- Sunil invested Rs. ‘4x’ in scheme ‘A’ offering simple interest of 25% p.a. and reinvested the interest earned from scheme ‘A’ at the end of 4 years in sche...
- If the ratio of the sum invested and simple interest received after 1 year is 20:9 respectively, then find the rate of interest.
- Ajay invested Rs.a in SI at 7% rate of interest per annum for 9 years. Vishal invested the same amount in SI at 5% rate of interest per annum for 3 years a...
- A sum invested at compound interest of 'r%' p.a., compounded annually amounts to Rs. 750 at the end of second year and Rs. 900 at the end of 3rd year. Find...
- Rajan invested Rs. 18,000 in a scheme offering x% p.a. simple interest for x years. Interest earned by him after ‘x’ years is Rs. 11520. Find the interest ...
- The simple interest received on a sum at the rate of 4 percent per annum is 3/5 of the sum. What is the time period?
Relevant for Exams:
