What will be the amount after 15 months on Rs 8000 at 12% per annum compounded 5 monthly?
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Answer (Detailed Solution Below)Option 2 : Rs 9261 Given: Principal = Rs 8000 Rate = 12% per annum Time = 15 Months Rate will be compounded 5 monthly. Formula Used: \({\rm{A}} = {\rm{P}}{\left[ {1 + \frac{{\rm{r}}}{{100}}} \right]^n}\) Concept Used: 15 Months is 3 terms of 5 months 12% is gained in 12 months, so in 5 months it will be 5%. Calculation: \({\rm{A}} = 8000{\left[ {1 + \frac{5}{{100}}} \right]^3}\) ⇒ A = (8000 × 21 × 21 × 21)/(20 × 20 × 20) = Rs 9261 ∴ The Amount earned will be Rs 9261. Let's discuss the concepts related to Interest and Compound Interest. Explore more from Quantitative Aptitude here. Learn now! Disclaimer The questions posted on the site are solely user generated, Doubtnut has no ownership or control over the nature and content of those questions. Doubtnut is not responsible for any discrepancies concerning the duplicity of content over those questions. Given : P = Rs. 8,000, R = 5%, T = 2 years S.I. = `[ "P" xx "R" xx "T"]/100` = `[8,000 xx 5 xx 2]/100` = Rs. 800 For compound interest, `"A" = "P"( 1 + r/100 )^n` `"A" = 8,000( 1 + 5/100 )^2` = `8,000 xx 21/20 xx 21/20` = Rs. 8,820 C.I. = A - P Now, C.I. - S.I. = Rs. ( 820 - 800 ) = Rs.
20. Solution Principal(P)=Rs. 8000 Rate(R)=10% p.a. Period(T)=3 years ∴ S.I for 3 years= PTR100=8000×10×3100 =Rs. 2400 Now, S.I. for 1st year = Rs.8000×10×1100 =80×10×1 Amount for the first year=P+S.I. =Rs. 8000 + Rs. 800=Rs. 8800 Principal for the second year= Rs. 8800 Interest for the second year= 8800×10×1100 =Rs. 880 ∴ Amount after second year= Rs. 8800 + Rs. 880 =Rs. 9680 Principal for the third year= Rs. 9680 Interest for the third year = Rs.9680×10×1100=Rs.968 ∴ C.I. for 3 years= Rs. 800+ Rs. 880+Rs. 968 ∴ Difference between C.I. and S.I. for 3 years =Rs. 2648-Rs. 2400 =Rs. 248Right on! Give the BNAT exam to get a 100% scholarship for BYJUS courses No worries! We‘ve got your back. Try BYJU‘S free classes today! No worries! We‘ve got your back. Try BYJU‘S free classes today! No worries! We‘ve got your back. Try BYJU‘S free classes today! Solution The correct option is A: Rs.3109Given: Principal, P=Rs.8000Rate, R =15%Time =2 years 4 months =2+(412) years =213 yearsAmount for 2 years is given asAmount, A=P(1+R100)t [∵t=time]= Rs. [8000×(1+15100)2]=Rs.(8000 ×2320× 2320=10580Interest for 13 years is given asI=P×R×t100=10580×15×13100=Rs.529Total amount for 213 years =10580+529=Rs.11109. (adsbygoogle = window.adsbygoogle || []).push({}); ∴ Compound Interest, C.I.= Toatal Amount - Principal =Rs.(11109 −8000)= Rs.3109.Textbooks Question Papers Home What is the difference between C.I and SI on 8000 at 15% per annum for 2 years?The difference between CI and SI on Rs. 8000 for 2yr is Rs. 20.
What is the difference between the compound interest and simple interest on 8000 at 15% for 2 years?Hence, the difference between the compound interest and simple interest on Rs. 800 at 15% per annum for 2 years is Rs. 180.
What is the difference between compound interest and simple interest on 8000 at 15% per annum?( 820 - 800 ) = Rs. 20. Thus, the difference between the compound interest and the simple interest is Rs. 20.
What is the difference between the compound interest and simple interest on Rupees 8000?Amount=P(1+r100)n=8000(1+5100)2=8000×(1+120)2=8000×(2120)2=8000×441400=20×441=8820∴CI=Amount−Principal=8820−8000=820. Q. A person invests Rs. 5,000 for three years at a certain rate of interest compounded annually.
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What is the difference between the compound interest and simple interest on 8000 at 15% per annum for 2 year?
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