In what time will the sum of Rs. 1600 at 5% p.a. CI amounts to Rs. 1764?A. 1B. 1.5C. 2D. 3 Show
Answer
Hint: Complete step by step answer: Note: The simple interest is cheaper than the compound interest because the simple interest applies to the whole amount for the whole time but in the case of compound interest, we have to pay the interest on the interest.
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RD Sharma Solutions Class 8 Mathematics Solutions for Compound Interest Exercise 14.2 in Chapter 14 - Compound InterestQuestion 44 Compound Interest Exercise 14.2 In how much time will a sum of Rs. 1600 amount to Rs. 1852.20 at 5% perannum compound interest? Answer: Given details are, Principal = Rs 1600 Amount = Rs 1852.20 Rate = 5% per annum Let time = T years By using the formula, A = P (1 + R/100)^n 1852.20 = 1600 (1 + 5/100)^T 1852.20 = 1600 (105/100)^T (21/20)^T = 1852.20/1600 (21/20)^T = 9261/8000 (21/20)^T = (21/20)^3 So on comparing both the sides, n = T = 3 ∴ Time required is 3year
Was This helpful? Free 20 Questions 30 Marks 18 Mins Given: Amount = 1852.20, Principal = 1600, Rate = 5%. Concept: A = P(1 + r/100)n Calculation: We know that, A = P(1 + r/100)n ⇒ 1852.20 = 1600(1 + 5/100)n ⇒ 1852.20 = 1600(105/100)n ⇒ 1852.20 = 1600(1.05)n ⇒ 1852.20/1600 = (1.05)n ⇒ 1.157625 = (1.05)n ⇒ (1.05)3 = (1.05)n ⇒ n = 3. Therefore in 3 years the rupees 1600 amount to rupees 1852.20 at 5% P.A. Latest TNPSC Group 2 Updates Last updated on Sep 26, 2022 The Tamil Nadu Public Service Commission (TNPSC) has released the TNPSC Group 2 Admit Card for the Prelims exam. The prelims exam is scheduled to be conducted on 21st May 2022. A total of 5529 vacancies have been released by the commission for the recruitment of the posts under TNPSC Group 2 like Assistant Section Officer, Revenue Assistant, Assistant, etc. Candidates can refer to the TNPSC Group 2 Previous Year Papers to analyze the type of questions and level of the examination and improve their preparation as well. Let's discuss the concepts related to Interest and Compound Interest. Explore more from Quantitative Aptitude here. Learn now! What rate per annum will 1000 amounts to 1331 in 3 years the interest is compounded yearly?∴ The rate of interest per annum is 10%.
How many years will 1600 become 1852.50 at 5% pa compounded annually?∴ Period = 3 years.
At what rate percent per annum compound interest will 1600?Complete step by step answer:
1600, the rate of interest is 5% compounded annually and the total amount becomes Rs. 1764. P=Rs. 1600andR=5%p.
At what rate percent per annum will 1600 amount to 2832?Answer: The rate of interest per annum is 14%.
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