CameraIcon

SearchIcon

MyQuestionIcon

1

You visited us 1 times! Enjoying our articles? Unlock Full Access!

Simple Interest

Janette inves...

Question

Janette invested 2000 $a t$ 5\% $c o m p o u n d a n n u a l l y f o r$ 5 $y e a r s . H o w m u c h i n t e r e s t d i d s h e e a r n a t t h e e n d o f t h e$ 5 $y e a r p e r i o d ? W r i t e a n s w e r i n t h e f o r m o f n e a r e s t i n t e g e r . (i n$ \$$)

Open in App

Solution

Given: Principal amount : $P =$ 2000 $A n n u a l r a t e$ = R= 5\% $P e r i o d$ = t = 5 $y e a r s . T o c a l c u l a t e a m o u n t :$ A = P \times \left (1 + \dfrac{R}{100}\right)^n = 2000 \times( 1+ 0.05)^5=\$$ $2552.56$
Total interest $=$ $2552.56 - 2000$ $=$ $553$

Suggest Corrections

thumbs-up

0

Similar questions

Q. Janette invested

a t

c o m p o u n d e d a n n u a l l y f o r

y e a r s . H o w m u c h i n t e r e s t d i d s h e e a r n a t t h e e n d o f t h e

5$ year period?

1000

5 %

p.a simple interest, if the interest is added to the principle after every

10

years, the amount will become Rs.

2000

Q. Rs 1500 is invested in two-part such that if one invested at 6%, and the other at 5% the total interest in one year from both investments is Rs 85. How much is invested at 5%?

Q. Ishita derive an annual income of, Rs 688.25 from Rs 10000 invested partly at 8% p.a, and partly at 5% p.a. simple interest. What is the ratio of her money invested at 5% to the investment at 8%.

Q. ₹ 7000 is invested for 5 yrs at 5% rate of interest (compounded annually). Match the principal for each year.

View More

Join BYJU'S Learning Program

similar_icon

Related Videos

lock

Simple and Compound Interest

MATHEMATICS

Watch in App

explore_more_icon

Explore more

Simple Interest

Standard VII Mathematics

Join BYJU'S Learning Program

CrossIcon