Home
Class 8
MATHS
The compound interest on half-yearly res...

The compound interest on half-yearly rests on Rs.10,000 the rate for the first and second years being 6% and for the third year 9% p.a. is

Text Solution

Verified by Experts

Principal amount is Rs.10,000.
6% is the rate for `1^(st)`and `2^(nd)` year and 9% for the `3^(rd)` year.
For half yearly we half the rate so 3% for `1^(st)` and `2^(nd)` year and `4.5%` for `3^(rd)` year and double the time period so 6 half yrs.
Compound interest=total amount- principal amount
=>`10,000(1+3/100)^4(1+9/200)^2-10,000`
=>` Rs.2290`
Promotional Banner

Similar Questions

Explore conceptually related problems

Find the amount and the compound interest on Rs. 4,000 in 2 years, if the rate of interest for first year is 10% and for the second year is 15%.

What is the Compound interest on 5000 in 3 years, if the rate of interest is 4% for the first year, 3% for the second year and 2% for the third year?

The compound interest on Rs. 5000 for 3 years at 10% for first year, 15% for second year and 8% for third year, will be :

The compound interest on Rs. 10,000 in 2 years at 4% per annum the interest being compounded half yearly, is :

Find the amount and the compound interest on ₹6500 for 2 years, compounded annually, the rate of Interest being 5% per annum during the first year and 6% per annum during the second year.

Divya deposited Rs 1000 at compound interest at the rate of 10% per annum.The amount at the end of the first year,second year,third year and so on

Calculate the compound interest for the second year on Rs. 15,000 invested for 5 years at 6% per annum.