What is the compound interest on Rs 18000 at 15% pa for two years?
Calculate the amount and compound interest on: Show
(a) Rs 10,800 for 3 years at 121/2 % per annum compounded annually. (b) Rs 18,000 for 21/2 years at 10% per annum compounded annually. (c) Rs 62,500 for 11/2 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. When the interest is compounded quarterly, then time is to converted in quarters such as 6 months has 2 quarter(1 quarter = 3 months) and rate is divided by 4.(1 year = 4 quarters) C.I = P[(1 + r%)t - 1] Calculation C I. = 18,000[(1 + 6%)2 - 1] C.I = 18,000[(106/100)2 - 1] C.I = 18,000[(11236 - 10000)/10000] C.I.= 18,000 × (1236/10000) C.I = Rs 2224.8(approx) or Rs.2225 the compound interest is Rs 2225. Stay updated with the Quantitative Aptitude questions & answers with Testbook. Know more about Interest and ace the concept of Compound Interest. (a) Here, Principal (P) = Rs. 10800, Time (n) = 3 years Rate of interest (R) = 12\ \frac{1}{2}\%=\frac{25}{2\%} Amount(A) = P\left(1+\frac{R}{100}\right)^n = 10800\left(1+\frac{1}{8}\right)^3=10800\left(\frac{9}{8}\right)^3 = 10800\times\frac{9}{8}\times\frac{9}{8}\times\frac{9}{8} = Rs. 15,377.34 Compound Interest (C.I.) = A – P = Rs. 10800 – Rs. 15377.34 = Rs. 4,577.34 (b) Here, Principal (P) = Rs. 18,000, Time (n) = 2\ \frac{1}{2} years, Rate of interest (R) = 10% p.a. Amount(A) = P\left(1+\frac{R}{100}\right)^n = 18000\left(1+\frac{10}{100}\right)^2=18000\left(1+\frac{1}{10}\right)^2 = 18000\left(\frac{11}{10}\right)^2=18000\times\frac{11}{10}\times\frac{11}{10} = Rs. 21,780 Interest for \frac{1}{2} years on Rs. 21,780 at rate of 10% = \frac{21780\times10\times1}{100}= Rs. 1089 Prop 30 is supported by a coalition including CalFire Firefighters, the American Lung Association, environmental organizations, electrical workers and businesses that want to improve California’s air quality by fighting and preventing wildfires and reducing air pollution from vehicles. Key EndorsementsEnvironmental and Public Interest Organizations
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