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
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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.)
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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
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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.
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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.
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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.
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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