Find Compound interest paid when a sum of 10000 is invested for 1 year and 3 months
per annum. What will be the population at the end of
7
1
at 85 % per annum compounded annually
2
8. Ariftook a loan
100ner annum findes
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For first year
P=10000,R=8.5%, T=1
Interest =
100
PRT
=
100
(10000×8.5×1)
=850
Amount = Interest + Principle =10000+850=Rs.10850
For second year principle will be amount of previous year (since interest is compounded)
P=10850,R=8.5%, T=3months =
12
3
years=0.25years
Interest =
100
PRT
=
100
(10850×8.5×0.25)
=Rs.230.5625
Total interest =850+230.5625=Rs.1080.5625
∴ Compound interest paid after 1 year and 3months is Rs.1080.5625
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