1. What amount of money should Mohan invest in a bank in order to get i 1323 in 2 years at 5% compound
annually?
2. Find the sum which amounts to 3 1352 in 2 years at 4% compound interest.
1
3. A certain sum amounts to * 1331 in 1
years at 20% p.a. compound interest compounded half yearly
Determine the sum.
4. On what sum of money does the difference between the simple interest and compound interest in 2 yean
at 5% per annum is * 15?
Answers
Answer:
1. Amount = Principal( 1 +r/100)^n
Rs 1323 = P (1+ 5/100)^2
Rs 1323= P ( 105/100)^2
Rs 1323 × 100/105 × 100/105 = Principal
Rs 1200 = PriNCIPAL
2.Correct Answer:A) RS.1250
Description for Correct answer
Using the formula, A = P(1+R100)nP(1+R100)n
=> 1352=P(1+4100)2P(1+4100)2
=> 1352=P(1.04)2P(1.04)2
P=1352(1.04)21352(1.04)2=RS.1250iven
3.Amount = Rs 1331
Time = 3/2 = 3 half years
Rate per annum = 20% = 10%
A = P( 1 + r/100 )^n
1331 = P ( 1 + 10/100 )^3
1331 = P( 110/100)^3
1331 × 100/110 × 100/110 × 100/110 = P
1000 Rs = Principle
4. S.I for 2 years = P*R*2/100
C.I for 2 years = P*[(1 + r/100)^2 - 1] = P(1 + 5/100)^2) - P = P(21/20)^2 - P
C.I - S.I for 2 years = 15
C.I - S.I = 441P/400 - P - 10P/100 = (441P - 400P - 40P)/400
15 = P/400
P= 400*15 = 6000 Rs.
Hence principal(sum of money) = Rs.6000
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