Compound Interest: Assignment
COMPOUND INTEREST
ASSIGNMENT - 1
1. Mr. Dubey borrows Rs 1,00,000 from State Bank of India at 11% per annum compound interest. He repays Rs 41,000 at the end of first year and Rs 47,700 at the end of the second year. Find the amount outstanding at the beginning of the third year. 2. What sum of money will amount to Rs 9261 in 3 years at 5% per annum compound interest? 3. The simple interest on a sum of money for 2 years at 4% per annum is Rs 340. Find (i) the sum of money and (ii) the compound interest on this sum for one year payable half yearly at the same rate. 4. Ramesh invests Rs 12800 for three years at the rate of 10% per annum compound interest. Find : (i) The sum due to Ramesh at the end of the first year. (ii) The interest he earns for the second year. (iii) The total amount due to him at the end of the third year. 5. A person invests Rs 10,000 for two years at a certain rate of interest compounded annually. At the end of one year this sum amounts to Rs 12,000. Calculate : (i) the rate of interest per annum (ii) the amount at the end of the second year. 6. If the interest is compounded half yearly, calculate the amount when the principal is Rs 7400, the rate of interest is 5% per annum and the duration is one year. 7. The compound interest on a certain sum of money at 5% per annum for 2 years is Rs 246. Calculate the simple interest on the same sum for three years at 6% per annum. 8. What sum of money will amount to Rs 3630 in two years at 10% p.a. compound interest? 9. On a certain sum of money, the difference between the compound interest for a year, payable half-yearly, and the simple interest for a year is Rs 180. Find the sum lent out, if the rate of interest in both the cases is 10% p.a. 10. A man borrows Rs 5000 at 12% compound interest p.a., interest payable every six months. He pays back Rs 1800 at the end of every six months. Calculate the third payment he had to make at the end of 18 months in order to clear the entire loan. 11. Calculate the
ASSIGNMENT - 1
1. Mr. Dubey borrows Rs 1,00,000 from State Bank of India at 11% per annum compound interest. He repays Rs 41,000 at the end of first year and Rs 47,700 at the end of the second year. Find the amount outstanding at the beginning of the third year. 2. What sum of money will amount to Rs 9261 in 3 years at 5% per annum compound interest? 3. The simple interest on a sum of money for 2 years at 4% per annum is Rs 340. Find (i) the sum of money and (ii) the compound interest on this sum for one year payable half yearly at the same rate. 4. Ramesh invests Rs 12800 for three years at the rate of 10% per annum compound interest. Find : (i) The sum due to Ramesh at the end of the first year. (ii) The interest he earns for the second year. (iii) The total amount due to him at the end of the third year. 5. A person invests Rs 10,000 for two years at a certain rate of interest compounded annually. At the end of one year this sum amounts to Rs 12,000. Calculate : (i) the rate of interest per annum (ii) the amount at the end of the second year. 6. If the interest is compounded half yearly, calculate the amount when the principal is Rs 7400, the rate of interest is 5% per annum and the duration is one year. 7. The compound interest on a certain sum of money at 5% per annum for 2 years is Rs 246. Calculate the simple interest on the same sum for three years at 6% per annum. 8. What sum of money will amount to Rs 3630 in two years at 10% p.a. compound interest? 9. On a certain sum of money, the difference between the compound interest for a year, payable half-yearly, and the simple interest for a year is Rs 180. Find the sum lent out, if the rate of interest in both the cases is 10% p.a. 10. A man borrows Rs 5000 at 12% compound interest p.a., interest payable every six months. He pays back Rs 1800 at the end of every six months. Calculate the third payment he had to make at the end of 18 months in order to clear the entire loan. 11. Calculate the