A sum of Rs. 2000 amounts to Rs. 4000 in two years at compound interest. In how many years does the same amount becomes Rs. 8000?
4
Using the formula for compound interest, we can find that the time it takes for the amount to double again (from Rs. 4000 to Rs. 8000) is 4 years.
Similar Questions
The difference between compound interest and simple interest on an amount of Rs. 15,000 for 2 years is Rs. 96. The rate of interest per annum is?
If the simple interest on a sum of money for 2 years at 5% per annum is Rs. 50, the compound interest on the same at the same rate and for the same time is:
The difference between simple and compound interest (compounded annually) on a sum of money for 3 years at 10% per annum is Rs. 93. The sum (in Rs.) is:
A man took a loan of ₹32,400 at a certain rate of simple interest per annum. The rate of interest is one-fourth of the number of years for which the loan is taken. If he paid ₹11,664 as interest at the end of the loan period, the rate of interest was:
A sum of ₹10,000 is taken as a loan by Rajesh at a rate of 15% p.a. simple interest for 2 years. But Rajesh could not repay it at the agreed time and asked for an extension of two more years. So, the lender included the interest amount for the period as principal for the next two years at the same rate of interest. The total amount paid by Rajesh at the end of 4 years is:
Two successive discounts of 40% and 30% are equal to a single discount of:
Important Questions from Simple and Compound Intrest
The difference between compound interest and simple interest on an amount of Rs. 15,000 for 2 years is Rs. 96. The rate of interest per annum is?
If the simple interest on a sum of money for 2 years at 5% per annum is Rs. 50, the compound interest on the same at the same rate and for the same time is:
- Amit invested equal amounts at simple interest and compound interest, compounded annually, for 2 years at the same rate of 4% per annum. In the end, he found a difference of ₹53 between the two interests earned. What was the amount (in ₹) invested in each case?
- The simple interest on a certain sum for $2\frac{6}{7}$ years at the rate of 7.7% per annum is ₹1,188.
What will be the amount payable on the same sum at the rate of 8.5% per annum simple interest in $4\frac{5}{9}$ years? - There is 60% increase in an amount in 6 years at simple interest. What will be the compound interest of ₹10,000 after 3 years at the same rate?
