Rani borrowed Rs 16,000 from her friends. Out of which Rs 6,000 were borrowed at 15% and the remaining at 10% rate of interest per annum. What is the total interest after 4 years?
Answers
Answer:
By using the formula,
A = P (1 + R/100) n
Let us solve
(i) Given, P = Rs 3000, rate = 5%, time = 2years
A = P (1 + R/100) n
= 3000 (1 + 5/100)2
= 3000 (105/100)2
= Rs 3307.5
Compound interest (CI) = A-P = Rs 3307.5 – 3000 = Rs 307.5
(ii) Given, P = Rs 3000, rate = 18%, time = 2years
A = P (1 + R/100) n
= 3000 (1 + 18/100)2
= 3000 (118/100)2
= Rs 4177.2
Compound interest (CI) = A-P = Rs 4177.2 – 3000 = Rs 1177.2
(iii) Given, P = Rs 5000, rate = 10%, time = 2years
A = P (1 + R/100) n
= 5000 (1 + 10/100)2
= 5000 (110/100)2
= Rs 6050
Compound interest (CI) = A-P = Rs 6050 – 5000 = Rs 1050
(iv) Given, P = Rs 2000, rate = 4%, time = 3years
A = P (1 + R/100) n
= 2000 (1 + 4/100)3
= 2000 (104/100)3
= Rs 2249.72
Compound interest (CI) = A-P = Rs 2249.72 – 2000 = Rs 249.72
(v) Given, P = Rs 12800, rate = 7 ½ % = 15/2% = 7.5%, time = 3years
A = P (1 + R/100) n
= 12800 (1 + 7.5/100)3
= 12800 (107.5/100)3
= Rs 15901.4
Compound interest (CI) = A-P = Rs 15901.4 – 12800 = Rs 3101.4
(vi) Given, P = Rs 10000, rate = 20 % = 20/2 = 10% (quarterly), time = 2years = 2 × 2 = 4years
A = P (1 + R/100) n
= 10000 (1 + 10/100)4
= 10000 (110/100)4
= Rs 14641
Compound interest (CI) = A-P = Rs 14641 – 10000 = Rs 4641
(vii) Given, P = Rs 160000, rate = 10% = 10/2% = 5% (half yearly), time = 2years = 2×2 = 4 quarters
A = P (1 + R/100) n
= 160000 (1 + 5/100)4
= 160000 (105/100)4
= Rs 194481
Compound interest (CI) = A-P = Rs 194481 – 160000 = Rs 34481
Answer:
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