11 Calculate the amount and the compound interest on 5000 in 2 years when the rate of
interest for successive years is 6% and 8% respectively.
12 Calculate the amount and the compound interest on 17000 in 3 years when the rate
of interest for successive years is 10%, 10% and 14% respectively.
13 A sum of 19600 is invested for 3 years at 10% per annum at compound interest.
(i) What is the sum due at the end of the first year?
Answers
Answer:
Calculate the amount and compound interest on Rs 5000 in two years when the rate for interest for successive years is 6% and 8% respectively. Hint: Use the information, SI=PTR100 where, P is principal amount, T is time for the interest and R is interest rate.
Answer
It is given that
Principal = 17000
Period = 3 years
Rate of interest for 3 successive years = 10%, 10% and 14%
We know that
Amount after 3 years = P(1+r/100)
n
Substituting the values
= 17000(1+10/100)(1+14/100)
By further calculation
= 17000×11/10×11/10×57/50
= 23449.80
Here
Amount of compound interest = A - P
Substituting the values
= 23449.80−17000
= 6449.80
It is given that
Principal= 9600
Rate of interest = 10% p.a
Period = 3 years
We know that
Interest for the first year= Prt/100
Substituting the values
= (9600×10×1)/100
= 960
(i) Amount after one year = 9600 - 960= 10560
So the principal for the second year = 10560
Here the interest for the second year= (10560×10×1)/100
=1056
Step-by-step explanation:
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