Calculate the amount on Rs 18000 for 2 years at 10% per annum compounded annually

Principal (P) = Rs 18,000

Rate (R) = 10% annual

Number of years (n) = `2 1/2` year

The amount for 2 years and 6 months can be calculated by first calculating the amount for 2 years using the compound interest formula, and then calculating the simple interest for 6 months on the amount obtained at the end of 2 years.

Firstly, the amount for 2 years has to be calculated.

`A = Rs[18000(1 + 1/10)^2] = Rs (18000xx11/10xx11/10)` = Rs 21780

By taking Rs 21780 as principal, the S.I. for the next `1/2` year will be calculated.

S.I = Rs `((21780 xx 1/2 xx 10)/100)` = Rs 1089

∴ Interest for the first 2 years = Rs (21780 − 18000) = Rs 3780

And interest for the next `1/2` year = Rs 1089

∴ Total C.I. = Rs 3780 + Rs 1089 = Rs 4,869

A = P + C.I. = Rs 18000 + Rs 4869 = Rs 22,869

Calculate the amount and compound interest on Rs 18,000 for 21/2 years at 10% per annum compounded annually.

Here P = Rs 18000,  T =

∵   Interest is compounded annually.

           n = 2 +

∴     

         =

         = Rs 18000

         = Rs 18000

         = Rs 22869

∴  Amount = Rs 22869

         CI = Rs 22869 - Rs 18000 = Rs 4869

650 Views

A milkman sold two of his buffaloes for Rs 20,000 each. On one he made a gain of 5% and on the other a loss of 10%. Find his overall gain or loss.(Hint: Find CP of each.)

192 Views

Find the buying price of each of the following when 5% ST is added on the purchase of

(a) A towel at Rs 50

(b) Two bars of soap at Rs 35 each

(c) 5 kg of flour at Rs 15 per kg

925 Views

Kamala borrowed Rs 26,400 from a Bank to buy a scooter at a rate of 15% p.a. compounded yearly. What amount will she pay at the end of 2 years and 4 months to clear the loan?

(Hint: Find A for 2 years with interest is compounded yearly and then find SI an the 2nd year for 4/12 tears.)

Here, we shall calculate the amount for 2 years using the CI formula. Then this amount will become the principal for next 4 months, i.e. 4/12 years.

119 Views

Calculate the amount and compound interest on:

(a) Rs 10,800 for 3 years at 121/2 % per annum compounded annually.

(b) Rs 18,000 for 21/2 years at 10% per annum compounded annually.

(c) Rs 62,500 for 11/2 years at 8% per annum compounded half yearly

(d) Rs 8,000 for 1 year at 9% per annum compounded half yearly.

(You could use the year by year calculation using SI formula to verify.)

(e) Rs 10,000 for 1 year at 8% per annum compounded half yearly.

1355 Views

A shopkeeper bought two TV sets at Rs 10,000 each. He sold one at a profit 10% and the other at a loss of 10%. Find whether he made an overall profit or loss.

1238 Views

What is the compound interest on 12000 rs at the rate of 10% for 2 years?

What is the compound interest on rupees 20000 at 10% for 2 years?

What is the compound interest for 2 years at 10% interest rate of Rs 30000?

What is the compound interest on 10000 for 2 years at 10% per annum?