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Compound Interest
1. Calculate Compound Interest and amount on Rs 4500 at 10 % per annum in 3 years.
2. Calculate Compound Interest and amount on Rs 625 for 2 years at 9 %, compounded half-yearly.
3. Calculate Compound Interest on Rs 8000 for 9 months at 20 % per annum, compounded quartely .
4. What sum of money becomes Rs. 9261 in 3 years at 5 % per annum, compounded annually ?
5. What will Rs 25000 amounts to in 2 years at Compound Interest if the rates for successive years be 4 % and 5 % per year.
6. A sum of money amounts to Rs 6690 after 3 years and to Rs 10035 after 6 years on compound interest. Calculate the sum of ...
7. A man borrows Rs 2500 at 5 % simple interest for 2 years. He immediately lends this money at compound interest at the same ...
8. The difference between the compound interest and the simple interest on a certain sum at 10 % per annum for 2 years is Rs. ...
9. If the compound interest on a certain sum for 3 years at 10 % per annum be Rs. 331 , what would be the simple interest ?
10. A sum of money 2 times itself at compound interest in 15 years. In how many years, it will become 8 times of itself ?
Problem 7 of 10
7. A man borrows Rs
at
% simple interest for
years. He immediately lends this money at compound interest at the same rate for the same time. What is the additional amount he gets at the ends of the years correct to nearest rupee?
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Compound Interest
7. A man borrows Rs 2500 at 5 % simple interest for 2 years. He immediately lends this money at compound interest at the same rate for the same time. What is the additional amount he gets at the ends of the years correct to nearest rupee?
Here `P = 2500, R = 5 %, N = 2`
`SI = (P*R*N)/100 = (2500 * 5 * 2) / 100 = 6.25`
`CI = P (1 + R/100)^N - P`
`= 2500 * ( 1 + 5 / 100 ) ^ 2 - 2500`
`= 2500 * ( 105 / 100 ) ^ 2 - 2500`
`= 2500 * (( 105 / 100 ) ^ 2 - 1)`
`= 256.25`
`:.` additional amounts he gets `= CI - SI = 256.25 - 250 = 6.25` Rs.
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