A sum put out at 4 % compound interest payabl | vedclass

Name: Exam Paper Generator | JEE NEET Paper Generator | Vedclass
Brand: Vedclass
Rating: 5 (35 reviews)

Question

(B) Let the principal sum be $P = ₹ x$.Given rate of interest $R = 4 \%$ per annum,compounded half-yearly.Therefore,the half-yearly rate $r = \frac{4}

Vedclass · Accepted Answer

$6250$

Vedclass · Answer

(B) Let the principal sum be $P = ₹ x$.Given rate of interest $R = 4 \%$ per annum,compounded half-yearly.Therefore,the half-yearly rate $r = \frac{4}{2} = 2 \% = 0.02$.Time period $n = 1 \frac{1}{2}$ years $= 3$ half-years.The formula for compound interest is $A = P(1 + r)^n$.Substituting the values: $6632.55 = x(1 + 0.02)^3$.$6632.55 = x(1.02)^3$.$6632.55 = x(1.061208)$.$x = \frac{6632.55}{1.061208} = 6250$.Thus,the sum is ₹ $6250$.

$A$ sum put out at $4 \%$ compound interest payable half-yearly amounts to ₹ $6632.55$ in $1 \frac{1}{2}$ years. The sum (in ₹) is

Similar Questions

What will be the compound interest on a sum of ₹ $25000$ after $3$ years at the rate of $12 \%$ per annum?

The difference between the simple and compound interest on a certain sum of money for $2$ years at $4 \%$ per annum is $Rs. 4$. Find the sum (In $Rs.$)?

If the rate of interest is $4 \%$ per annum for the first year,$5 \%$ per annum for the second year,and $6 \%$ per annum for the third year,then the compound interest on $Rs. 10000$ for $3$ years will be (in $Rs.$):

Find the compound interest on $Rs. 12500$ at $8 \%$ per annum for $9$ months compounded quarterly (in $Rs.$).

If a sum of money placed at compound interest,compounded annually,doubles itself in $5$ years,then the same amount of money will be $8$ times of itself in how many years?

Vedclass Test Series

Exam Paper Generator

Online Exam Module