Q. 1. Calculate the amount and
compound interest on:
(a) Rs. 10,800 for 3 years at 12 % per
annum compounded annually.
(b) Rs. 18,000 for 2 years at 10% per
annum compounded annually.
(c) Rs. 62,500 for 16 years at 8% per
annum compounded half yearly.
(d) Rs. 8,000 for 1 year at 9% per annum
compounded half yearly. (You could
use the year by year calculation using
S.I. formula to verify).
(e) Rs. 10,000 for 1 year at 8% per annum
compounded half yearly.
Answers
Answer:
Q. 1
Calculate the amount and compound interest on
(a) Rs 10,800 for 3 years at
per annum compounded annually.
(b) Rs 18,000 for
years at 10% per annum compounded annually.
(c) Rs 62,500 for
years at 8% per annum compounded half yearly.
(d) Rs 8,000 for 1 year at 9% per annum compounded half yearly.
(You could use the year by year calculation using SI formula to verify).
(e) Rs 10,000 for 1 year at 8% per annum compounded half yearly.
Answer
Amount on Compound Interest is given by the formula,
and Compound interest can be calculated by the formulaC.I = Amount - Principalwhere,P = Principal Amountr = rate of interestn = time (in years)(a) Here, Principal (P) = Rs. 10800, Time (n) = 3 years,
Rate of interest (R) = 12 1/2 % = (25/2)%
= Rs. 15,377.34
Compound Interest (C.I.) = A – P
= Rs. 15377.34 - Rs. 10800 = Rs. 4,577.34
(b) Here, Principal (P) = Rs. 18,000, Time (n) =
years, Rate of interest (R) = 10% p.a.
[For 2 years]
= Rs. 21,780
Interest for 1/2 years on Rs. 21,780 at rate of 10% =
= Rs. 1,089
Total amount for
years
= Rs. 21,780 + Rs. 1089 = Rs. 22,869
Compound Interest (C.I.) = A – P
= Rs. 22869 – Rs. 18000 = Rs. 4,869
(c) Here, Principal (P) = Rs. 62500, Time (n) = 3/2 years =
years = 3 years (compounded half yearly)
Rate of interest (R) =
= 4% (compounded half yearly)
Amount (A)
= Rs. 70,304
Compound Interest (C.I.) = A – P
= Rs. 70304 – Rs. 62500 = Rs. 7,804
(d) Here, Principal (P) = Rs. 8000, Time (n) = 2×1 years = 2 years(compounded half yearly)
Rate of interest (R) =half of 9% =
(compounded half yearly)
Amount (A)
= Rs. 8,736.20
Compound Interest (C.I.) = A – P
= Rs. 8736.20 – Rs. 8000
= Rs. 736.20
(e) Here, Principal (P) = Rs. 10,000, Time (n) = 1 years = 2 years (compounded half yearly)
Rate of interest (R) = 8% = 4% (compounded half yearly)
= Rs. 10,816
Compound Interest (C.I.) = A – P
= Rs. 10,816 – Rs. 10,000 = Rs. 816
Explanation:
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Answer:
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