Q16 of 52 Page 117

A person deposited ₹100 in a bank and got the amount ₹121 for two years the rate of compound interest is

Let the rate of compound interest per annum be r% per annum.


We know that the amount at rate of r% compound interest per annum for 2 years


By the condition,








∴ r = 10


∴ Rate of interest per annum is 10%.

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16

At present the population of a village is p and if increase rate of population per year be 2r%, the population will be after n years

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present price of a machine is ₹2p and if price of the machine decreases by 2r% in each year, the price of machine will be.

 16

Let us write true or false for the following statements

(i) The compound interest will be always less than simple interest for some money at fixed rate of interest for fixed time.


(ii) In case of compound interest, interest is to be added to principal at the fixed time interval. i.e the amount of principal increases continuously.

 16

Let us fill in the blanks:

(i) The compound interest and simple interest for one year at the fixed rate of interest on fixed sum of money are_____________.


(ii) If some things are increased by fixed rate with respect to time, that is ___________.


(iii) If some things are decreased by fixed rate with respect to time this is uniform rate of ___________.