The compound interest on a certain sum for 2 | vedclass

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

Question

(D) Given: Compound Interest $(CI)$ = $Rs. 1272$,Time $(t)$ = $2$ years,Rate $(r)$ = $12 \%$ per annum.The formula for compound interest is: $CI = P \

Vedclass · Accepted Answer

$1200$

Vedclass · Answer

(D) Given: Compound Interest $(CI)$ = $Rs. 1272$,Time $(t)$ = $2$ years,Rate $(r)$ = $12 \%$ per annum.The formula for compound interest is: $CI = P \left[\left(1 + \frac{r}{100}ight)^t - 1ight]$Substituting the values: $1272 = P \left[\left(1 + \frac{12}{100}ight)^2 - 1ight]$$1272 = P \left[(1.12)^2 - 1ight]$$1272 = P [1.2544 - 1]$$1272 = P 	imes 0.2544$$P = \frac{1272}{0.2544} = 5000$Now,calculate the simple interest $(SI)$ using the formula: $SI = \frac{P 	imes r 	imes t}{100}$$SI = \frac{5000 	imes 12 	imes 2}{100}$$SI = 50 	imes 24 = 1200$Therefore,the simple interest is $Rs. 1200$.

The compound interest on a certain sum for $2$ years at $12 \%$ per annum,compounded annually is $Rs. 1272$. The simple interest (in $Rs.$) for that sum at the same rate and for the same period will be?

Similar Questions

What would be the $C.I.$ obtained on an amount of $12500$ at the rate of $12 \, p.c.p.a.$ after $2$ years (in $Rs.$)?

At what rate per cent compound interest does a sum of money become $16$ times in $4$ years?

The simple interest accrued on an amount of $Rs. 19800$ at the end of $3$ years is $Rs. 7128$. What would be the compound interest (in $Rs.$) accrued on the same amount at the same rate in the same period?

If the compound interest on a certain sum of money for $3$ years at $5 \%$ p.a. is $Rs. 504.40$,find the corresponding simple interest. (In $Rs.$)

The difference between compound and simple interest at a certain rate on $Rs. 2000$ at the end of two years is $Rs. 12.8$. The rate of interest (in $\%$) per annum is:

Vedclass Test Series

Exam Paper Generator

Online Exam Module