Q6 of 94 Page 29

Find the compound interest on Rs. 15,625 for 9 months, at 16% per annum compounded quarterly.

Principle = 15,625

Rate of interest = 16%


Time = 9 months


Amount =


=


= 17,576


Compound interest = amount – principle


= 17,576 – 15,625


= 1,951


More from this chapter

All 94 →
4

Find the compound interest on Rs. 24,000 compounded half - yearly for 11/2 years at the rate of 10% per annum.

 5

Find the amount that Dravid would receive if he invests Rs. 8,192 for 18 months at 121/2% per annum, the interest being compounded half - yearly.

 7

Find the Principle that will yield a compound interest of Rs. 1,632 in 2 years at 4% rate of interest per annum.

 8

Vicky borrowed Rs. 26,400 from a bank to buy a scooter at the rate of 15% p.a. compounded yearly. What amount will he pay at the end of 2 years and 4 months to clear the loan?