Question

1. Find the compound interest when: (i) P = * 1000, T = 2 years and R = 11% per annum (i) P = 2500, T = 2 years and R = 8% per annum (iii) P = * 2800, T = 2 years and R = 10% per annum (iv) P = 6000, T = 2 years and R = 6% per annum (U) P = * 7500, T = 2 years and R = 5% per annum 2. Find the compound interest on 12000 for 2 years at 7-% per annum. 7 2 1 3. Anil borrowed 3 40000 from a bank repayable after 3 years at 12 2 compound interest. How much will he have to be paid back to the bank after 3 years ? 4. Find the compound interest on * 4,50,000 for 2 years at 10% per annum. 5. A person was sanctioned a furniture loan of 36000 by a bank. If the rate of interest is 8% per annum compounded annually, calculate the compound interest payable by the person after 3 years. 6. Mrinal invests 10000 in a bank for 2 years at 6% per annum compound interest and another 5000 in a different bank for 3 years at 5% per annum compound interest. Find the total interest receivable by Mrinal from the two banks. 7. A person invested a sum of money for 2 years at 10% per annum compound interest. After 2 years, he got back * 14520. Find the sum of money he invested initially. [Hint : Let * 100 be the sum invested.] 111​

Answer 1

Answer:

$\huge\bigstar\red{ANSWER:-}$

➡Present value=₹2500

Interest rate=10% per annum

Time=2 years

To find the amount we have the formula,

Amount(A)=P(1+(R/100))

n

where P is present value, r is rate of interest, n is time in years.

Now substituting the values in above formula we get,

∴A=2500(1+10/100)

2

⇒A=2500(11/10)

2

⇒A=2500(121/100)

⇒A=25(121)

⇒A=₹3025

Now,

∴ Compound interest = A–P

=3025–2500=₹525