A sum becomes ₹9,075 after 2 years at 10% per annum compound interest, compounded annually. What was the principal amount (in ₹)?
7,500
Let the principal be P. Amount after 2 years at 10% CI: \(P\times(1.1)^2 = P\times1.21 = 9075\).
\(P = \dfrac{9075}{1.21} = 7500\).
Hence, the principal amount was ₹7,500.
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At what rate percent per annum will Rs. 7200 amount to Rs. 7938 in one year, if interest is compounded half yearly?
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What is the difference (in Rs.) between the interests on Rs. 50,000 for one year at 8% per annum compounded half yearly and yearly?
A sum of money becomes Rs. 11,880 after 4 years and Rs. 17,820 after 6 years on compound interest, if the interest is compounded annually. What is the half of the sum (in Rs.)?
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