Given:
Principal (P) = ₹30,000
Rate of Interest (R) = 7% per annum
Time (T) = 2 years
Formula Used:
Amount (A) = P
Compound Interest (CI) = A-P
Solution:
Calculate the amount (A):
A = 30000
A = 30000(1.07)2
A = 30000 × 1.1449 = ₹34347
Now,
CI = A - P = 34347-30000
= ₹4347
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90 Mins English English100 Questions100 Marks90 Mins English English40 Questions30 Marks25 Mins EnglishAshish has Rs. 1218 with him. He invested money for Arun and Mahesh at 10% compound interest annually. Arun invested for 11 years and Mahesh for 12 years. Both got equal amounts. How much (in ₹) did Ashish give to Mahesh?
Ashok has Rs. 1612 with him. He divided it amongst his sons Raj and Varun and asked them to invest it at 8% rate of interest compounded annually. It was seen that Raj and Varun got same amount after 16 and 17 years respectively. How much (in Rs. ) did Ashok give to Raj?
Anand has Rs. 1218. He divided it between Anil and Ashok. They invest at 10% CI annually. After 15 and 16 years respectively, both get the same amount. How much did Ashok get?
If the interest earned during the 2nd year on a certain sum is Rs. 5,520, and the rate of interest is 20% per annum compounded annually, then the sum is:
Shan divides Rs. 1617 between Piyush and Manoj. They invest at 10% CI annually. After 11 and 12 years respectively, both get the same amount. How much did Piyush get?
Mahesh has Rs. 1617 with him. He divided it amongst his sons Vijay and Ajay and asked them to invest it at 10% rate of interest compounded annually. It was seen that Vijay and Ajay got same amount after 19 and 20 years respectively. How much (in Rs. ) did Mahesh give to Vijay?
Atul has two grandsons Baban and Rakesh. 11 year old Baban gets some money from Atul’s wealth and 12 year old Rakesh gets rest of the money. But Baban and Rakesh will get money only when they turn 24 years old. Till then the money is in a bank getting interest at rate 5% compounded annually. When both turn 24, they receive the same amount. How much had Atul given Rakesh (in Rs. ) initially, if total money with Atul was Rs. 24600?
Ashok has Rs. 1617 with him. He divided it amongst his sons Raj and Varun and asked them to invest it at 10% rate of interest compounded annually. It was seen that Raj and Varun got same amount after 18 and 19 years respectively. How much (in Rs. ) did Ashok give to Raj?
Pramod has two grandsons Ashish and Ketan. 13 year old Ashish gets some money from Pramod’s wealth and 14 year old Ketan gets rest of the money. But Ashish and Ketan will get money only when they turn 24 years old. Till then the money is in a bank getting interest at rate 4% compounded annually. When both turn 24, they receive the same amount. How much had Pramod given Ketan (in Rs. ) initially, if total money with Pramod was Rs. 25500?
Veer has Rs. 1617 with him. He divided it amongst his sons Nitin and Pravin and asked them to invest it at 10% rate of interest compounded annually. It was seen that Nitin and Pravin got same amount after 16 and 17 years respectively. How much (in Rs. ) did Veer give to Nitin?
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