By using the formula, find the amount and compound interest on:
A sum of money amounts to Rs 10240 in 2 years at 6 2/3% per annum, compounded annually. Find the sum.

Open in App

Solution

Amount (A) = Rs. 10240
Rate (r)=6+2/3%=20/3% p.a.Period
(n) = 2 years
Let sum = P, then A=P(1+r/100)ⁿ
⇒ 10240=P(1+20/(3×100))²⇒ 10240=P(1+1/15)²⇒ 10240=P×(16/15)²∴ P=Rs. 10240×(15/16)²=Rs. 10240×15/16×15/16=Rs. 9000
∴ Sum=Rs. 9000 Ans.

Suggest Corrections

156

Similar questions

A sum of money amounts to $R s 10240$ in $2$ years at $6 \frac{2}{3} %$ per annum, compounded annually. Find the sum.

A sum of money amounts to $R s . 11910.16$ in $1 \frac{1}{2}$ years at $12 %$ per annum interest being compounded semi annually. Find the sum.

By using the formula, find the amount and compound interest on:

Rs 10240 for 3 years at $12 \frac{1}{2} %$ per annum compounded annually.

By using the formula, find the amount and compound interest on:
$R s . 10240$ for $3$ years at $12 \frac{1}{2} %$ per annum compounded annually.

Sum of money amounts to Rs. 453690 in 2 years at $6.5 %$ per annum compounded annually. Find the sum.

Join BYJU'S Learning Program