Daljit received a sum of Rs. 40000 as a loan from a finance company. If the rate of interest is 7% per annum compounded annually, calculate the compound interest that Daljit pays after 2 years. Show
\[A = P \left( 1 + \frac{R}{100} \right)^n \] Concept: Rate Compounded Annually Or Half Yearly (Semi Annually) Is there an error in this question or solution? Solution : `A=P[1+ R/100 ]^T`<br>`A=40000[1+7/100]^2`<br>`A=40000[107/100]^2`<br>`A=40000[1.07]^2`<br>`A=`Rs.`45796`<br>Now, the compound interest will be<br>`C.I=A−P`<br>`C.I=45796−40000`<br>`C.I=`Rs.`5796`<br>Hence,Compound interest`=`Rs.`5796`. RD Sharma Solutions Class 8 Mathematics Solutions for Compound Interest Exercise 14.1 in Chapter 14 - Compound InterestQuestion 16 Compound Interest Exercise 14.1 Daljit received a sum of Rs. 40000 as a loan from a finance company. If the rate of interest is 7% per annum compounded annually, calculate the compound interest that Daljit pays after 2 years. Answer: Given details are, Principal (p) = Rs 40000 Rate (r) = 7% Time = 2years By using the formula, A = P (1 + R/100)^n = 40000 (1 + 7/100)^2 = 40000 (107/100)^2 = Rs 45796 ∴ Compound Interest = A – P = Rs 45796 – Rs 40000 = Rs 5796 Was This helpful?
If a sum of Rs. 40,000 at compound interest of 5 p.m amounted to Rs. 44,100. Find the time for which the money was invented.Answer Verified Hint: To solve this question, first we will take all the given data from the question and then convert the rate of interest into numeric value by dividing the rate by 100, then we will substitute all the values in the formula of Compound interest $A=P{{\left( 1+\dfrac{r}{n} \right)}^{n}}$, then on solving an equation and on simplification, we will gate the value of n by comparing L.H.S and R.H.S. Complete step by step answer: Now, in question, it is given that sum of Rs. 40,000 at compound interest of 5% p.m amounted to Rs.44,100. Note:
What is the interest received on a sum of Rs 40,000 after 2 year at a rate of compounded annually?Thus, the compound interest paid by Rehana after 2 years is Rs. 5796.
What would be the approximate interest earned after 3 years from a principal of 40,000?40,000 at the end of three years is Rs. 12,000.
What is the compound interest on a sum of 40,000 for 33 years at the rate of 11% per annum?Answer: Compound interest on the amount of 40000 for 33 years = 12,12,328 rupees.
What will be the sum of 48000 amount in 2 years?Answer: The sum of rupees 48000 was lent out at simple interest and at the end of 2 years and 3 months. Total amount was rupees 55560.
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