Question

17 The compound interest calculated yearly at 10% on a certain sum of money amounts
665.50 in the fifth year. Calculate :
to
Solution :
O.I. for the sixth year at the same rate and on the same sum.
(i) C.I. for the fourth year on the same sum and at the same rate.​

Answer 1

Given : The compound interest calculated yearly at 10% on a certain sum of money amounts 665.50 in the fifth year.

To Find :  C.I. for the sixth year at the same rate and on the same sum.

C.I. for the fourth year on the same sum and at the same rate.​

Solution:

The compound interest in the fifth year. = 665.5

C.I. for the sixth year at the same rate and on the same sum. = The compound interest in the fifth year + SI for 1 year on compound interest in the fifth year

= 665.5  + (10/100) 665.5

= 732.05

C.I. for the sixth year at the same rate and on the same sum = 732.05

Let say C.I. for the fourth year on the same sum and at the same rate.​ = X

C.I. for the fifth year at the same rate and on the same sum. = The compound interest in the fourth year + SI for 1 year on compound interest in the fourth year

= X  + (10/100) X

= 1.1X

1.1X  = 665.5

=> X = 605

C.I. for the fourth year on the same sum and at the same rate.​ = 605 Rs

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