Question
Find the compound interest on ₹19,375 in 1 year at 8% per annum, the interest being compounded half-yearly.
The correct answer is
₹1,581
\(CI=19375[(1.04)^2-1]=1581\)
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Important Questions from Compound Interest
- A sum of money triples itself at a certain rate of compound interest in 11 years. In how many years will it amount to 27 times of itself?
A sum of ₹10,000 amounts to ₹12,321 in 2 years at a certain rate of interest per annum, compounded annually. The rate of interest per annum is:
- If the interest earned during the 2nd year on a certain sum is ₹2,352, and the rate of interest is 5% per annum compounded annually, then the sum is:
- A sum of money triples itself at a certain rate of compound interest in 17 years. In how many years will it amount to 81 times of itself?
If the interest earned during the $2^{nd}$ year on a certain sum is ₹3,342, and the rate of interest is 20% per annum compounded annually, then the sum is:
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