Q15 of 89 Page 14

Rekha deposited Rs. 16000 in a foreign bank which pays interest at the rate of 20% per annum compounded wuarterly, find the interest received by Rekha after one year

Given,


Principal = Rs. 16000


Rate = 20% per annum =


Time = 1 year = 4 quarters


Hence,


Compound interest =


=


So,


Interest received by Rekha after one year = Rs.3448.10


More from this chapter

All 89 →
13

Find the amount that David would receive if he invests Rs. 8192 for 18 months at 12c% per annum, the interest being compounded half-yearly.

 14

Find the compound interest on Rs. 15625 for 9 months, at 16% per annum, compounded quarterly.

 16

Find the amount of Rs. 12500 for 2 years compounded annually, the rate of interest being 15% for the first year and 16% for the second year.

 17

Ramu borrowed Rs. 15625 from a finance company to buy scooter. If the rate of interest be 16% per annum compounded annually, what payment will he have to make after 2years?