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What annual payment will discharge a debt of 1025 due in 2 years at the rate of 5% compound interest?
Explanation :
In what time will Rs. 64,000 amount to Rs.68921 at 5% per annum interest being compounded half yearly?
R = 2.5%, A = 68921 , P = 64000 and t= 2n
A/P = [1+(R/100)]^2n
68921/64000 = [1+(2.5/100)]^2n
(41/40)^3 = (41/40)^2n
2n = 3
n=3/2 =1(1/2) years
If the difference between the CI and SI on a sum of money at 5% per annum for 2years is Rs.16.Find the Simple Interest ?
16 =P*( 5/100)^2
P = 6400
SI =(6400*5*2)/100 =640
The difference between the SI and CI on Rs.5000 at 10%per annum for 2 year is
d = p (r/100)^2
= 5000 (10/100)^2
d = 50
The difference SI and CI on Rs.1000 for 1 year at 10%per annum reckoned Half yearly is
SI = (1000/100 =100
CI = [1000(1+(5/100))^2] – 1000 = 102.5
D = 102.5 – 100 = 2.5
Compound interest on a certain sum of money at 20% per annum for 2 years is Rs.5984.What is the SI on the same money at 9% per annum for 6 years ?
5984 = p [(1+(20/100)^2) -1] P = (5984*25)/11 = 13600
SI = (13600*9*6)/100 = 7344
The difference between CI and SI on an amount Rs. 15000 for 2 year is Rs.96.What is the rate of interest per annum ?
The effective annual rate of interest corresponding to the nominal rate of 4% per annum payable half yearly is
Let p = 100
CI = [100+(1+[2/100]^2)] = 100 × (102/100)× (102/100)
= 104.04
Effective rate = 104.04 – 100 = 4.04%
Rohit borrowed Rs. 1200 at 12% PA .He repaid Rs. 500 at the end of 1 year. What is the amount required to pay at the end of 2nd year to discharge his loan which was calculated in CI
CI at the end of 1st year = 1200 *( 1+(12 /100)) = 1344
CI= 1344-1200 = 144
500 paid then remaining amount = 1344 – 500 = 844
At the end of 2nd year
844*[(1+(12/100)] =945.28
A sum of money invested at CI to Rs.800 in 3 years and to Rs.840 in 4 years.Find rate of interest PA ?
CI for 3 yr = 800
CI for 4 yr = 840
CI for 1 yr = 40
R = (100 × 40)/(800×1) = 10/2 = 5%
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