Find the compound interest on rupees 10000 for 2 years at 5% per annum
Solution: Show
What is known: Principal, Time Period, and Rate of Interest What is unknown: Amount and Compound Interest (C.I.) Reasoning: A = P[1 + (r/100)]n P = ₹ 10,000 n = \(1{\Large\frac{1}{2}}\) years R = 10% p.a. compounded annually and half-yearly where , A = Amount, P = Principal, n = Time period and R = Rate percent For calculation of C.I. compounded half-yearly, we will take the Interest rate as 5% and n = 3 A = P[1 + (r/100)]n A = 10000[1 + (5/100)]3 A = 10000[1 + (1/20)]3 A = 10000 × (21/20)3 A = 10000 × (21/20) × (21/20) × (21/20) A = 10000 × (9261/8000) A = 5 × (9261/4) A = 11576.25 Interest earned at 10% p.a. compounded half-yearly = A - P = ₹ 11576.25 - ₹ 10000 = ₹ 1576.25 Now, let's find the interest when compounded annually at the same rate of interest. Hence, for 1 year R = 10% and n = 1 A = P[1 + (r/100)]n A = 10000[1 + (10/100)]1 A = 10000[1 + (1/10)] A = 10000 × (11/10) A = 11000 Now, for the remaining 1/2 year P = 11000, R = 5% A = P[1 + (r/100)]n A = 11000[1 + (5/100)] A = 11000[(105/100)] A = 11000 × 1.05 A = 11550 Thus, amount at the end of \(1{\Large\frac{1}{2}}\)when compounded annually = ₹ 11550 Thus, compound interest = ₹ 11550 - ₹ 10000 = ₹ 1550 Therefore, the interest will be less when compounded annually at the same rate. ☛ Check: NCERT Solutions for Class 8 Maths Chapter 8 Video Solution: Find the amount and the compound interest on ₹ 10,000 for \(1{\Large\frac{1}{2}}\) years at 10% per annum, compounded half yearly. Would this interest be more than the interest he would get if it was compounded annually?NCERT Solutions Class 8 Maths Chapter 8 Exercise 8.3 Question 8 Summary: The amount and the compound interest on ₹ 10,000 for \(1{\Large\frac{1}{2}}\) years at 10% per annum, compounded half-yearly is ₹ 11576.25 and ₹ 1576.25 respectively. The interest will be less when compounded annually at the same rate. ☛ Related Questions:
Course NCERT Class 12Class 11Class 10Class 9Class 8Class 7Class 6 IIT JEE Exam JEE MAINSJEE ADVANCEDX BOARDSXII BOARDS NEET Neet Previous Year (Year Wise)Physics Previous YearChemistry Previous YearBiology Previous YearNeet All Sample PapersSample Papers BiologySample Papers PhysicsSample Papers Chemistry Download PDF's Class 12Class 11Class 10Class 9Class 8Class 7Class 6 Exam CornerOnline ClassQuizAsk Doubt on WhatsappSearch DoubtnutEnglish DictionaryToppers TalkBlogJEE Crash CourseAbout UsCareerDownloadGet AppTechnothlon-2019 Logout Login Register now for special offers +91 Home > English > Class 14 > Maths > Chapter > Compound Interest > What will be the C.I. of Rs. 1... Updated On: 27-06-2022 UPLOAD PHOTO AND GET THE ANSWER NOW! Text Solution Answer : Rs. 1576.25
Answer Step by step solution by experts to help you in doubt clearance & scoring excellent marks in exams. Related Videos510054662 0 9.1 K 1:43 On what sum of money will the difference between S.I and C.I for 2 years at `5%` per annum be equal to Rs 25? 643431304 0 6.5 K 2:49 The difference of S.I and C.I on a sum at 5% per annum for 3 years is Rs. 36.60. Find the sum. 643431305 0 600 5:30 The difference of C.I and S.I on a sum at 5% per annum for 3 years is Rs. 1525. Find the sum. 646930536 0 6.3 K 2:11 If the rate of interest be `4%` per annum for first year, `5%` per annum for second year and `6%` per annum for third year, then the compound interest of `Rs. 10,000` for 3 years will be 643431403 0 900 2:24 If the difference between S.I. and C.I. for 2 years on a sum of money lent at 5% per annum is Rs. 6, then the sum is 643656059 0 4.1 K 2:20 At what rate percent per annum C.I will Rs 2,000 amount to Rs 2,315.25 in 3 years ? Show More Comments Add a public comment... Follow Us: Popular Chapters by Class: Class 6 AlgebraBasic Geometrical IdeasData HandlingDecimalsFractions Class 7 Algebraic ExpressionsComparing QuantitiesCongruence of TrianglesData HandlingExponents and Powers Class 8 Algebraic Expressions and IdentitiesComparing QuantitiesCubes and Cube RootsData HandlingDirect and Inverse Proportions Class 9 Areas of Parallelograms and TrianglesCirclesCoordinate GeometryHerons FormulaIntroduction to Euclids Geometry Class 10 Areas Related to CirclesArithmetic ProgressionsCirclesCoordinate GeometryIntroduction to Trigonometry Class 11 Binomial TheoremComplex Numbers and Quadratic EquationsConic SectionsIntroduction to Three Dimensional GeometryLimits and Derivatives Class 12 Application of DerivativesApplication of IntegralsContinuity and DifferentiabilityDeterminantsDifferential Equations Privacy PolicyTerms And Conditions Disclosure PolicyContact Us What is the compound interest of 10000 in 2 years?∴ C.I. = ₹(10824.32 - 10000) = ₹824.32.
What is the compound interest on 10000 for 2 years at 10% per annum?Compound Interest would be 12100rs.
What will be the CI of Rs 10000 at 5% per annum for 3 years?The answer is 1576.25!!
What is the compound interest of 1000 rupees for 4 years at 5% pa?=1,218−1,000=218.
|