304

You visited us 304 times! Enjoying our articles? Unlock Full Access!

Byju's Answer

Standard X

Mathematics

Recurring Deposit Account

Calculate the...

Question

Calculate the compound interest on a principal 10,000 at 8% per anum for 3 years.

Open in App

Solution

We are given P = $R s . 10, 000$ , $R = 8 %$ , $n = 3$ years.
at $8 %$ column with the row $3$ years. It is $0.2597$ (by ready recknors) . This means $R s . 0.2597$ is the interest for $R s . 1$ for $3$ years at $8 %$ per anum.
Therefore compound interest for $R s . 10, 000 = 0.2597 \times 10, 000 = R s . 2, 597$ .

Suggest Corrections

Similar questions

Q. Find the compound interest on Rs. 12,000 for 2 years at 4% per anum.

Q. Calculate the simple interest and compound interest for a principal of ₹ 25,000 at the rate of 10% per annum for two years.

Q. Calculate the C.l. on Rs 10,000 at 8% per annum and in 1.5 years, interest being compounded half-yearly.

Find the compound interest at the rate of $8 %$ per annum for 3 years on that principal which in 3 years at the rate of $5 %$ per annum gives Rs. 1200 as simple interest.

Q. Calculate the amount and compound interest on
(a)

R s 10, 800

for

3

years at

12 \frac{1}{2}

% per annum compounded annually.
(b)

R s 18, 000

for

2 \frac{1}{2}

years at

10

% per annum compounded annually.
(c)

R s 62, 500

for

1 \frac{1}{2}

years at

8

% per annum compounded annually.
(d)

R s 8, 000

for

1

years at

9

% per annum compounded annually.
(e)

R s 10, 000

for

1

years at

8

% per annum compounded annually.

Join BYJU'S Learning Program

Calculate the compound interest on a principal 10,000 at 8% per anum for 3 years.

We are given P =Rs. 10,000, R=8%, n=3 years.at 8% column with the row 3 years. It is 0.2597 (by ready recknors) . This means Rs. 0.2597 is the interest for Rs. 1 for 3 years at 8% per anum.Therefore compound interest for Rs. 10,000=0.2597×10,000=Rs.2,597.