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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 9 of 10
9. If the compound interest on a certain sum for
years at
% per annum be Rs.
, what would be the simple interest ?
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Compound Interest
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 ?
Here `R = 10 %, N = 3` years, `CI = 331`
`CI = P (1 + R/100)^N - P`
`= P ( 1 + 10 / 100 ) ^ 3 - P`
`= P ( 110 / 100 ) ^ 3 - P`
`= P (( 110 / 100 ) ^ 3 - 1)`
`= 0.331 P`
Now `CI = 331`
`=> 0.331 P = 331`
`=> P = 1000`
Now, `SI = (P*R*N)/100 = (1000 * 10 * 3) / 100 = 300`.
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