Question

Calculate the amount and compound interest on the following (Qs 1–7):
X. 5000 for 2 years at 8% per annum compounded annually.
2. 10,000 for 3 years at 10% per annum compounded annually.
1
3. 8000 for 2 years at 12% per annum compounded ar
annually.
X2
1
4. 3200 for 2 years at 5% per annum compounded annually.
5. 100 for 1 year at 10% per annum compounded half-yearly.
1
6. 31,25,000 for 15 years at 8% per annum compounded half-yearly
7., 6250 for 1 year at 16% per annum compounded half-yearly.
2
Compound Interest, Growth and Dep​

Answer 1

Answer:

Given:

Present value =₹ 10000

Interest rate =10% per annum

Time =3 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=10000(1+10/100)

3

⇒A=10000(11/10)

3

⇒A=121(10)(11)

⇒A=1331(10)

⇒A=₹ 13310

∴ Compound interest =A–P

=13310–10000=₹ 3310