Q8 of 52 Page 112

Rahaman chacha deposited some money in a cooperative bank at the rates of 9% compound interest and he received amount ₹29702.50 after 2 years. Let us calculate how much money Rahman chacha had deposited in cooperative bank.

Let principal = ₹x


At the rate of 9% compound interest per the annum the amount for 2 years



= ₹1.1881x


∴ Compound interest for 2 years = 1.1881x – x


By the condition, 1.1881x – x = 29702.50


⇒ 0.1881x = 29702.50


∴ x = ₹157908.0276


∴ Principal is ₹157908.0276


More from this chapter

All 52 →
6

chandadavi borrowed some money for 2 years in the compound interest at the rate of 8% per annum. Let us calculate if the compound interest is ₹2946, then how much money she had lended.

 7

Let us write by calculating the principal which becomes ₹2648 after getting 10% compound interest per annum for 3 years.

 9

Let us write by calculating what sum of money at the rate of 8% compound interest per annum for 3 years will amount to ₹31492.80.

 10

Let us calculate the difference between the compound interest and simple interest on ₹12000 for 2 years, at 7.5% interest per annum.