The compound interest on a certain sum for 2 | vedclass

Name: Exam Paper Generator | JEE NEET Paper Generator | Vedclass
Brand: Vedclass
Rating: 5 (35 reviews)

Question

(D) Given: Compound Interest $(CI)$ = $Rs. 1272$,Time $(t)$ = $2$ years,Rate $(r)$ = $12 \%$ per annum.The formula for compound interest is: $CI = P \

Vedclass · Accepted Answer

$1200$

Vedclass · Answer

(D) Given: Compound Interest $(CI)$ = $Rs. 1272$,Time $(t)$ = $2$ years,Rate $(r)$ = $12 \%$ per annum.The formula for compound interest is: $CI = P \left[\left(1 + \frac{r}{100}ight)^t - 1ight]$Substituting the values: $1272 = P \left[\left(1 + \frac{12}{100}ight)^2 - 1ight]$$1272 = P \left[(1.12)^2 - 1ight]$$1272 = P [1.2544 - 1]$$1272 = P 	imes 0.2544$$P = \frac{1272}{0.2544} = 5000$Now,calculate the simple interest $(SI)$ using the formula: $SI = \frac{P 	imes r 	imes t}{100}$$SI = \frac{5000 	imes 12 	imes 2}{100}$$SI = 50 	imes 24 = 1200$Therefore,the simple interest is $Rs. 1200$.

The compound interest on a certain sum for $2$ years at $12 \%$ per annum,compounded annually is $Rs. 1272$. The simple interest (in $Rs.$) for that sum at the same rate and for the same period will be?

Similar Questions

$A$ certain sum at compound interest amounts in two years to ₹ $2809$ and in three years to ₹ $2977.54$. Find the rate of interest and the original sum (in ₹).

What is the rate of interest (in $\%$) if simple interest earned on a certain sum for the $3^{rd}$ year is $₹ 2,000$ and compound interest earned in $2$ years is $₹ 4,160$?

If the difference between the compound interest and simple interest on a sum of money for $3$ years is ₹ $186$,find the sum of money (in ₹) if the rate of interest in both cases is $10 \%$.

The difference between the simple and compound interest on a certain sum of money for $2$ years at $4 \%$ per annum is $Rs. 4$. Find the sum (In $Rs.$)?

There is a $60 \%$ increase in an amount in $6$ years at simple interest. What will be the compound interest (in $Rs.$) on $Rs. 12,000$ after $3$ years at the same rate?

Vedclass Test Series

Exam Paper Generator

Online Exam Module