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RD Sharma Solutions Class 8 Mathematics Solutions for Compound Interest Exercise 14.1 in Chapter 14 - Compound InterestQuestion 12 Compound Interest Exercise 14.1 Ramesh deposited Rs. 7500 in a bank which pays him 12% interest per annumcompounded quarterly. What is the amount which he receives after 9 months. Answer: Given details are, Principal (p) = Rs 7500 Rate (r) = 12 % = 12/4 = 3 % (for quarterly) Time = 9 months = 9/12years = 9/12 × 4 = 3 (for quarter in a year) By using the formula, A = P (1 + R/100)^n = 7500 (1 + 3/100)^3 = 7500 (103/100)^3 = Rs 8195.45 ∴ Required amount is Rs 8195.45
Video transcript hello students welcome to lido's question and answer classroom my name is shaista firozi class and today we are going to find out the amount for the given question the question says ramesh deposited rupees 7500 in a bank so as you can clearly see that you have you have been given principal as rupees 7500 which pays him 12 interest per annum compounded quarterly okay please remember this is written quarterly means for four months so this 12 percent interest is given for per annum that is for a year but we want to find it for quarterly what is the amount so you have to find out the amount which he receives after nine months so which he receives after nine months nine months is again the time period but do remember this is for annum and we have to find it out for quarterly so let's quickly start the solution by dotting out like whatever information is given to us so as you can see that principle is rupees seven thousand five hundred so principal means p then you have interest that is rate of interest r which is equals to 12 percent so since i told you before also that it is for per annum we have to find it out for quarterly i am going to divide it by 4 so therefore i will write down as 12 divided by 4 which is equals to nothing but 3 percent so this is for quarter please do remember this is for quarter and 12 percent was for annum okay so now we will draw down time which is n for nine months okay now again one more thing please remember this nine months is for whole year we want it for quarter so since first of all since this is in months time is always considered to be in years first i'm going to convert this month into years so i'll just write down 9 upon 12 this will be in years okay now since this is for whole annum i want it for quarterly so i will write down 9 upon 12 multiplied by 4 okay which gives me equals to 3 that is again for quarter okay so our time period or you can say our n is nothing but three years okay now we will start with our amount formula so let's quickly write down the amount our amount is equals to principal that is p 1 plus rate of interest that is r upon hundred raised to n that is period so principal is seven thousand five hundred one plus rate of interest is three upon 100 raised to period is again three so 7500 the whole bracket now again please do see that here in the whole bracket i'm going to remove lcm okay so because the denominators are different so i will take an lcm and i will get 100 plus 3 upon 100 raised to 3 which is equals to 7500 103 upon 100 raised to 3. so on calculation of this that is 7500 multiply by one zero three raised to hundred upon hundred raised to three after calculation we will get as rupees eight hundred eight thousand one nine so this is our amount so you can clearly see from the screen that we have got our amount which is 8195.45 rupees okay so all right that's our answer hope you have all understood see you all next time thank you bye bye Was This helpful? At what rate of interest would 7500 amount to 11700 after 8 years?Detailed Solution
∴ The rate of interest per annum is 7%.
At what rate percent will a sum of rupees 7500 amount to rupees 8427 in 2 years compounded annually?7500Amount (A) = 8427Period = 2 yearsLet R be the rate of p.a., then∴ AP=(1+R100)n⇒ 84277500 = (1+R100)2⇒ 28092500=(1+R100)2⇒ (5350)2=(1+R100)2∴ 1+R100=5350⇒ R100=5350−1=350∴ R=350×100=6%
In what time will rupees 7500 amount to rupees 8625 if simple interest is reckoned at 15 2 per annum?t = 2 years
Hence the time required to pay ₹7500 amount to ₹8625, if interest is reckoned at 7 1/2<%pa is 2 years.
At what rate of compound interest compounded annually will 7500 become 9075 in 2 years?We have , Principal , P = Rs 7500 Time , n = 2 yrs Amount. A = P 1 + R 100 n ⇒ 9075 = 7500 1 + R 100 2 ⇒ 9075 7500 = 1 + R 100 2 ⇒ 121 100 = 1 + R 100 2 ⇒ 11 10 2 = 1 + R 100 2 ⇒ 1 + R 100 = 11 10 ⇒ R 100 = 11 10 - 1 ⇒ R 100 = 11 - 10 10 ⇒ R 100 = 1 10 ⇒ R = 10 So , rate of interest is 10.
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At what rate percent will the interest on Rupees 7500 be rupees 1500 in 4 years what will be the amount after 8 years?
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