Given:
P = Rs. 1200
r = 12%
t = 6 months
Formula Used:
CI = P [(1 + r/100)t– 1]
If interest compounded quarterly, then
r = 12/4 = 3%
t = 6/12 × 4 = 2 years
Solution:
CI = P [(1 + r/100)t– 1]
=> CI = 1200[(1 + 3/100)2– 1]
=> CI = 1200 × [103/100 × 103/100 – 1]
=> CI = 1200 × (10609 – 10000)/10000
=> CI = 1.2 × 609/10
=> CI = Rs. 73.08
English
100 Questions
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90 Mins English English100 Questions100 Marks90 Mins English English100 Questions100 Marks90 Mins EnglishJaspreet deposited a sum of ₹28,450 at 20% rate of interest per annum, compounded annually. The total amount received by Jaspreet after 2 years is:
The amount on a sum of ₹2,800 at the rate of 5% per annum compound interest, compounded annually, in 2 years will be:
The compound interest on ₹2,000 for one year at 10% per annum, compounded half-yearly, is
If a sum of money placed at compound interest doubles itself in 2.5 years. In how many years will it become eight times the original sum at the same rate?
A sum of ₹12,000 is invested for 2 years at a certain rate of interest, compounded annually. Had it been invested at a rate 2% higher, it would have earned ₹ 504 more. The original rate of interest is
The compound interest on a sum of ₹ 15000 at 4% per annum for 3 years compounded annually is
Mohit borrowed some money from Kamal at 5% per annum compound interest. If after 2 years, he paid ₹ 768.75 as compound interest, he borrowed :
Find the compound interest on ₹ 31250 for 9 months at 16% per annum when the interest is calculated quarterly.
On an amount of ₹2,00,000, a bank gives ₹1,04,175 as interest in 3 years. If the interest is compounded annually, then what is the interest rate per annum?
Navjot invested a sum of ₹48,800 at 10% per annum for 1 year on compound interest (interest is compounded half-yearly). Find the amount received by him.
Suggested Test Series
Suggested Test Series
Jaspreet deposited a sum of ₹28,450 at 20% rate of interest per annum, compounded annually. The total amount received by Jaspreet after 2 years is:
The amount on a sum of ₹2,800 at the rate of 5% per annum compound interest, compounded annually, in 2 years will be:
The compound interest on ₹2,000 for one year at 10% per annum, compounded half-yearly, is
If a sum of money placed at compound interest doubles itself in 2.5 years. In how many years will it become eight times the original sum at the same rate?
A sum of ₹12,000 is invested for 2 years at a certain rate of interest, compounded annually. Had it been invested at a rate 2% higher, it would have earned ₹ 504 more. The original rate of interest is
The compound interest on a sum of ₹ 15000 at 4% per annum for 3 years compounded annually is
Mohit borrowed some money from Kamal at 5% per annum compound interest. If after 2 years, he paid ₹ 768.75 as compound interest, he borrowed :
Find the compound interest on ₹ 31250 for 9 months at 16% per annum when the interest is calculated quarterly.
On an amount of ₹2,00,000, a bank gives ₹1,04,175 as interest in 3 years. If the interest is compounded annually, then what is the interest rate per annum?
Navjot invested a sum of ₹48,800 at 10% per annum for 1 year on compound interest (interest is compounded half-yearly). Find the amount received by him.
