If a sum on compound interest becomes three times in 4 years, then with the same interest rate, the sum will become 27 times in:
The least number of complete years in which a sum of money put out at 20% compound interest will be more than doubled is: [N.I.F.T. 2003]
A man borrows Rs. 2550 to be paid back with compound interest at the rate of 4% per annum by the end of 2 years in two equal yearly instalments. How much will each instalment be?
Answer & Solution
Answer: c) Rs. 1352
Solution: Let the value of each instalment be Rs. x. Then, (P.W. of Rs. x due 1 year hence) + (P.W. of Rs. x due 2 years hence) = Rs. 2550 => x/[1 + (4/100)] + x/[1 + (4/100)]^2 = 2550 => (25x/26) + (625x/676) = 2550 => 1275x = 2550 * 676 => x = [(2550 * 676)/1275] = 1352 Value of each instalment = Rs. 1352
What annual income payment will discharge a debt of Rs. 1025 due in 2 years at the rate of 5% compound interest? [S.S.C. 2000]
A man borrows Rs. 12,500 at 20% compound interest. At the end of every year he pays Rs. 200 as part repayment. How much does he still owe after three such instalments?
A sum of money is borrowed and paid back in two annual instalments of Rs. 882 each allowing 5% compound interest. The sum borrowed was: [A.I.M.A.T.S. 2002]
The difference between the compound interest and the simple interest earned on a sum of money at the end of 4 years is Rs. 256.40. To find out the sum, which of the following informations given in the statements P and Q is/are necessary? P : Amount of simple interest accrued after 4 years. Q : Rate of interest per annum.