If the compound interest on a sum for 2 years | vedclass

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

Question

(D) Let the principal amount be $P$.Given rate $R = 12 \frac{1}{2} \% = \frac{25}{2} \% = 12.5 \% = \frac{1}{8}$ per annum.Time $T = 2$ years.Compound

Vedclass · Accepted Answer

$480$

Vedclass · Answer

(D) Let the principal amount be $P$.Given rate $R = 12 \frac{1}{2} \% = \frac{25}{2} \% = 12.5 \% = \frac{1}{8}$ per annum.Time $T = 2$ years.Compound Interest ($C$.$I$.) formula: $C.I. = P \left[ \left(1 + \frac{R}{100} ight)^T - 1 ight]$.$510 = P \left[ \left(1 + \frac{1}{8} ight)^2 - 1 ight]$.$510 = P \left[ \left( \frac{9}{8} ight)^2 - 1 ight] = P \left[ \frac{81}{64} - 1 ight] = P \left( \frac{17}{64} ight)$.$P = \frac{510 	imes 64}{17} = 30 	imes 64 = ₹ 1920$.Now,Simple Interest ($S$.$I$.) = $\frac{P 	imes R 	imes T}{100} = \frac{1920 	imes 12.5 	imes 2}{100} = \frac{1920 	imes 25}{100} = 1920 	imes 0.25 = ₹ 480$.

If the compound interest on a sum for $2$ years at $12 \frac{1}{2} \%$ per annum is ₹ $510$,the simple interest (in ₹) on the same sum at the same rate for the same period of time is:

Similar Questions

The difference between the compound interest and the simple interest on ₹ $8000$ for $3$ years at $5 \%$ per annum is (in ₹):

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 a sum of money at compound interest amounts to thrice itself in $3$ years,then in how many years will it be $9$ times itself?

Find the compound interest (in ₹) on ₹ $15625$ for $9$ months at $16 \%$ per annum compounded quarterly.

The compound interest (in ₹) on ₹ $5,000$ for $3$ years at $10 \%$ per annum will amount to:

Vedclass Test Series

Exam Paper Generator

Online Exam Module