Home
Class 7
MATHS
Srikanth borrowed a sum of Rs. 12000 fro...

Srikanth borrowed a sum of Rs. 12000 from a finance company at the rate of 20% per annum under compound interest, compounded annually. Find the amount and C.I. for a period of 2 years.

Text Solution

Verified by Experts

Principal P= Rs. 12000
Rate of interest R= 20%
Time period n=2 years
Amount, `A=P(1+(R )/(100))^(n)=12000(1+(20)/(100))^(2)=12000xx(6)/(5)xx(6)/(5)=Rs. 17280`
`therefore` Compound interest, C.I. =A-P=Rs. 172800-Rs 12000= Rs. 5280
Promotional Banner

Topper's Solved these Questions

  • SIMPLE INTEREST AND COMPOUND INTEREST

    PEARSON IIT JEE FOUNDATION|Exercise Very Short Answer Type Questions|30 Videos

  • SIMPLE INTEREST AND COMPOUND INTEREST

    PEARSON IIT JEE FOUNDATION|Exercise Short Answer Type Questions|15 Videos

  • Set theory

    PEARSON IIT JEE FOUNDATION|Exercise ASSESSMENT TEST Test 2|12 Videos

  • STATISTICS

    PEARSON IIT JEE FOUNDATION|Exercise CONCEPT APPLICATION (LEVEL 3)|11 Videos

Similar Questions

Explore conceptually related problems

Farheen borrowed a sum of Rs 18,000 at the rate of 20% per annum, interest compounded semi-annually. Find the amount and compound interest for a period of 1(1/2) years.

Find the amount on Rs 9900 at 20% per annum for 2 years at compound interest (compounded annually).

A certain sum amounts to Rs 72900 in 2 years at 8% per annum compound interest, compounded annually. Find the sum.

Find the amount of Rs 12000 after 3 years at the rate of 12% per annum compounded annually.

A person borrowed a sum of Rs. 8000 at the rate of 10% per annum compounded semi-annually. Find the amount and compound interest for a period of one year.

What sum would amount to Rs 17,280 in 3 years, at an interest of 20% per annum rate, interest compounded annually?

Find the compound interest on Rs 320000 for one year at the rate of 20% per annum, if the interest is compounded quarterly.