Find compound interest on Rs 12600 for 2 years at 10% p.a. compounded annually.
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A shopkeeper bought two TV sets at Rs 10,000 each. He sold one at a profit 10% and the other at a loss of 10%. Find whether he made an overall profit or loss.
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A milkman sold two of his buffaloes for Rs 20,000 each. On one he made a gain of 5% and on the other a loss of 10%. Find his overall gain or loss.(Hint: Find CP of each.)
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Calculate the amount and compound interest on:
(a) Rs 10,800 for 3 years at 121/2 % per annum compounded annually.
(b) Rs 18,000 for 21/2 years at 10% per annum compounded annually.
(c) Rs 62,500 for 11/2 years at 8% per annum compounded half yearly
(d) Rs 8,000 for 1 year at 9% per annum compounded half yearly.
(You could use the year by year calculation using SI formula to verify.)
(e) Rs 10,000 for 1 year at 8% per annum compounded half yearly.
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Find the buying price of each of the following when 5% ST is added on the purchase of
(a) A towel at Rs 50
(b) Two bars of soap at Rs 35 each
(c) 5 kg of flour at Rs 15 per kg
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Kamala borrowed Rs 26,400 from a Bank to buy a scooter at a rate of 15% p.a. compounded yearly. What amount will she pay at the end of 2 years and 4 months to clear the loan?
(Hint: Find A for 2 years with interest is compounded yearly and then find SI an the 2nd year for 4/12 tears.)
Here, we shall calculate the amount for 2 years using the CI formula. Then this amount will become the principal for next 4 months, i.e. 4/12 years.
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Sum
Find CI on Rs. 12600 for 2 years at 10% per annum compounded annually.
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Solution
We have,
A = P`(1 + R/100)^n`, where Principal (P) = ₹ 12600, Rate (R) = 10, Number of years (n) = 2
= ₹ 12600`(1 + 10/100)^2`
= ₹ 12600`(11/10)^2`
= ₹ `12600 xx 11/10 xx 11/10`
= ₹ 15246.
CI = A - P
= ₹ 15246 - ₹ 12600
= ₹ 2646.
Concept: Deducing a Formula for Compound Interest
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Updated On: 27-06-2022
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