What is the amount of Rs.6,000 at the rate of 5% per annum for 2 years, when interest is compounded annually?
- Rs. 6615
- Rs. 6655
- Rs. 6775
- Rs. 6900
Answer (Detailed Solution Below)
Option 1 : Rs. 6615
Free
CT 1: Growth and Development - 1
10 Questions 10 Marks 10 Mins
Given:
Principal of Rs.6000 at 5% p.a. for 2 years
Formula used:
Amount = Principal × (1 + r/100)n
Calculation:
Amount = 6000 × (1 + 5/100)2
⇒ 6000 × 21/20 × 21/20 = 6615
∴ Amount = Rs.6615
Alternate Method Effective rate of interest for 2 years = r + r + (r × r)/100
⇒ 5 + 5 + (5 × 5)/100 = 10 + 0.25 = 10.25%
Amount is calculated on Principal that is100% of itself.
So, Amount = Principal + Interest = 100% + 10.25% = 110.25%
∴ Amount = Rs.6000 × 110.25% = Rs.6615
Last updated on Nov 24, 2022
The Uttar Pradesh Basic Education Board (UPBEB) has released the UPTET Final Result for the 2021 recruitment cycle. The UPTET exam was conducted on 23rd January 2022. The UPBEB going to release the official notification for the UPTET 2022 soon on its official website. The selection of the candidates depends on the scores obtained by them in the written examination. The candidates who will be qualified for the written test will receive an eligibility certificate that will be valid for a lifetime.
Ace your Interest preparations for Compound Interest with us and master Quantitative Aptitude for your exams. Learn today!
Getting Image
Please Wait...
Course
NCERT
Class 12Class 11Class 10Class 9Class 8Class 7Class 6
IIT JEE
Exam
JEE MAINSJEE ADVANCEDX BOARDSXII BOARDS
NEET
Neet Previous Year (Year Wise)Physics Previous YearChemistry Previous YearBiology Previous YearNeet All Sample PapersSample Papers BiologySample Papers PhysicsSample Papers Chemistry
Download PDF's
Class 12Class 11Class 10Class 9Class 8Class 7Class 6
Exam CornerOnline ClassQuizAsk Doubt on WhatsappSearch DoubtnutEnglish DictionaryToppers TalkBlogJEE Crash CourseAbout UsCareerDownloadGet AppTechnothlon-2019
Logout
Login
Register now for special offers
+91
Home
>
English
>
Class 9
>
Maths
>
Chapter
>
Compound Interest (Using Formula)
>
At what rate per cent per annu...
Updated On: 27-06-2022
UPLOAD PHOTO AND GET THE ANSWER NOW!
Text Solution
Answer : 0.05
Answer
Step by step solution by experts to help you in doubt clearance & scoring excellent marks in exams.
Related Videos
646905746
0
500
1:53
3 वर्षों में 20 प्रतिशत प्रति वर्ष की दर से 12500 रुपए पर वार्षिक रूप से संयोजन चक्रवृद्धि ब्याज से मिलने वाली राशि का होगी?
283264742
0
300
3:54
At what rate per cent per annum will Rs 5000 amount to Rs 5832 in 2 years, compounded annually?
283264724
0
400
3:25
At what rate per cent per annum will a sum of Rs 7500 amount to Rs 8427 in 2 years, compounded annually?
283264550
0
200
3:11
At what rate per cent per annum will a sum of Rs 6250 amount to Rs 7840 in 2 years, compounded annually?
283264636
0
4.6 K
5:03
At what rate per cent per annum will Rs 640 amount to 774.40 in 2 years when compounded annually?
489585573
0
8.8 K
2:41
At what rate per cent per annum will Rs. 2304 amount to Rs. 2500 in 2 years at compound interest ?
Show More
Comments
Add a public comment...
Follow Us:
Popular Chapters by Class:
Class 6
AlgebraBasic Geometrical IdeasData HandlingDecimalsFractions
Class 7
Algebraic ExpressionsComparing QuantitiesCongruence of TrianglesData HandlingExponents and Powers
Class 8
Algebraic Expressions and IdentitiesComparing QuantitiesCubes and Cube RootsData HandlingDirect and Inverse Proportions
Class 9
Areas of Parallelograms and TrianglesCirclesCoordinate GeometryHerons FormulaIntroduction to Euclids Geometry
Class 10
Areas Related to CirclesArithmetic ProgressionsCirclesCoordinate GeometryIntroduction to Trigonometry
Class 11
Binomial TheoremComplex Numbers and Quadratic EquationsConic SectionsIntroduction to Three Dimensional GeometryLimits and Derivatives
Class 12
Application of DerivativesApplication of IntegralsContinuity and DifferentiabilityDeterminantsDifferential Equations
Privacy PolicyTerms And Conditions
Disclosure PolicyContact Us