Calculate the compound interest on Rs 15625 for 3 years at 4 per annum compounded annually

Principal (P)= Rs. 15625
Rate (r) = 4%
Time(n) = 3 years

We know,
Amount = P(1+r/100)^n
= 15625(1+4/100)^3
= 15625 * 26/25 * 26/25 *26/25
= 26*26*26
= 17576 Rs.
Now,
C.I = A - P
= 17576 - 15625
= Rs. 1951

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

Solution

Given: 
P = Rs 15, 625
\[R = 16 \% = \frac{16}{4} = 4 \% \text{ quarterly }\]
n = 9 months = 3 quarters
We know that: 
\[A = P \left( 1 + \frac{R}{100} \right)^n \]
 = Rs \[15, 625 \left( 1 + \frac{4}{100} \right)^3 \]
 = Rs \[15, 625 \left( 1 . 04 \right)^3 \]
 = Rs 17, 576
Also, 
CI = A - P
 = Rs 17, 576 - Rs 15, 625
 = Rs 1, 951
Thus, the required compound interest is Rs 1, 951.

Find the compound interest for a sum of Rs. 15625 at the rate of 16% per annum compounded half yearly for 1.5 years.

1. Rs. 6708
2. Rs. 4095
3. Rs. 6578
4. Rs. 4058

Answer (Detailed Solution Below)

Option 4 : Rs. 4058

Free

10 Questions 10 Marks 7 Mins

Given:

Sum = Rs. 15625

Rate = 16%

Time = 1.5 years

Formula Used;

C.I  = A - P 

A = P(1 + R/100)T

Calculation:

Interest compounded half yearly

R = 16/2 = 8%

T = 1.5 × 2 = 3 

substituting the values in the formula 

A = 15625(1 + 8/100)3

⇒ A = 15625(27/25)3 = Rs.19683

C. I = A - P = 19683 - 15625 = 4058

∴ The compound interest is Rs. 4058

Last updated on Sep 21, 2022

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Updated On: 27-06-2022

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Text Solution

Rs 4805Rs. 4508Rs. 4580Rs. 4058

Answer : D

Solution : Use the formula.

Answer

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