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ML Aggarwal: Simple & Compound Interest - 2
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Page 1 1. Calculate the compound interest on Rs 6000 at 10% per annum for two years. Solution: Given Rate of interest = 10% per annum Principal for the first year = Rs 6000 Interest for the first year = Rs × × = Rs 600 Amount at the end of first year = Rs 6000 + Rs 600 = Rs 6600 Principal for the second year = Rs 6600 Interest for the second year = Rs × × = Rs 660 Amount for the second year = Rs 6600 + Rs 660 = Rs 7260 Therefore, compound interest for 2 years = final amount – (original) Principal = Rs 7260 – Rs 6000 We get, = Rs 1260 Page 2 1. Calculate the compound interest on Rs 6000 at 10% per annum for two years. Solution: Given Rate of interest = 10% per annum Principal for the first year = Rs 6000 Interest for the first year = Rs × × = Rs 600 Amount at the end of first year = Rs 6000 + Rs 600 = Rs 6600 Principal for the second year = Rs 6600 Interest for the second year = Rs × × = Rs 660 Amount for the second year = Rs 6600 + Rs 660 = Rs 7260 Therefore, compound interest for 2 years = final amount – (original) Principal = Rs 7260 – Rs 6000 We get, = Rs 1260 2. Salma borrowed from Mahila Samiti a sum of Rs 1875 to purchase a sewing machine. If the rate of interest is 4% per annum, what is the compound interest that she has to pay after 2 years? Solution: Principal for the first year = Rs 1875 Rate of interest = 4% p.a. Interest for the first year = Rs " × × = 75 Amount at the end of first year = Rs 1875 + Rs 75 = Rs 1950 Principal for the second year = Rs 1950 Interest for the second year = Rs × × = 78 Amount at the end of second year = Rs 1950 + Rs 78 = Rs 2028 Hence, Compound interest paid by Salma = Final amount – (original) Principal = Rs 2028 – Rs 1875 = Rs 153 3. Jacob invests Rs 12000 for 3 years at 10% per annum. Calculate the amount and the compound interest that Jacob will get after 3 years. Solution: Page 3 1. Calculate the compound interest on Rs 6000 at 10% per annum for two years. Solution: Given Rate of interest = 10% per annum Principal for the first year = Rs 6000 Interest for the first year = Rs × × = Rs 600 Amount at the end of first year = Rs 6000 + Rs 600 = Rs 6600 Principal for the second year = Rs 6600 Interest for the second year = Rs × × = Rs 660 Amount for the second year = Rs 6600 + Rs 660 = Rs 7260 Therefore, compound interest for 2 years = final amount – (original) Principal = Rs 7260 – Rs 6000 We get, = Rs 1260 2. Salma borrowed from Mahila Samiti a sum of Rs 1875 to purchase a sewing machine. If the rate of interest is 4% per annum, what is the compound interest that she has to pay after 2 years? Solution: Principal for the first year = Rs 1875 Rate of interest = 4% p.a. Interest for the first year = Rs " × × = 75 Amount at the end of first year = Rs 1875 + Rs 75 = Rs 1950 Principal for the second year = Rs 1950 Interest for the second year = Rs × × = 78 Amount at the end of second year = Rs 1950 + Rs 78 = Rs 2028 Hence, Compound interest paid by Salma = Final amount – (original) Principal = Rs 2028 – Rs 1875 = Rs 153 3. Jacob invests Rs 12000 for 3 years at 10% per annum. Calculate the amount and the compound interest that Jacob will get after 3 years. Solution: Principal for the first year = Rs 12000 Rate of interest = 10% p.a. Interest for the first year = Rs × × = Rs 1200 Amount at the end of first year = Rs 12000 + Rs 1200 = 13200 Principal for the second year = Rs 13200 Interest for the second year = Rs × × = Rs 1320 Amount at the end of second year = Rs 13200 + Rs 1320 = Rs 14520 Principal for the third year = Rs 14520 Interest for the third year = Rs × × = Rs 1452 Amount at the end of third year = Rs 14520 + Rs 1452 = Rs 15972 Hence, Compound interest for 3 year = Final amount – (original) Principal = Rs 15972 – Rs 12000 = Rs 3972 Page 4 1. Calculate the compound interest on Rs 6000 at 10% per annum for two years. Solution: Given Rate of interest = 10% per annum Principal for the first year = Rs 6000 Interest for the first year = Rs × × = Rs 600 Amount at the end of first year = Rs 6000 + Rs 600 = Rs 6600 Principal for the second year = Rs 6600 Interest for the second year = Rs × × = Rs 660 Amount for the second year = Rs 6600 + Rs 660 = Rs 7260 Therefore, compound interest for 2 years = final amount – (original) Principal = Rs 7260 – Rs 6000 We get, = Rs 1260 2. Salma borrowed from Mahila Samiti a sum of Rs 1875 to purchase a sewing machine. If the rate of interest is 4% per annum, what is the compound interest that she has to pay after 2 years? Solution: Principal for the first year = Rs 1875 Rate of interest = 4% p.a. Interest for the first year = Rs " × × = 75 Amount at the end of first year = Rs 1875 + Rs 75 = Rs 1950 Principal for the second year = Rs 1950 Interest for the second year = Rs × × = 78 Amount at the end of second year = Rs 1950 + Rs 78 = Rs 2028 Hence, Compound interest paid by Salma = Final amount – (original) Principal = Rs 2028 – Rs 1875 = Rs 153 3. Jacob invests Rs 12000 for 3 years at 10% per annum. Calculate the amount and the compound interest that Jacob will get after 3 years. Solution: Principal for the first year = Rs 12000 Rate of interest = 10% p.a. Interest for the first year = Rs × × = Rs 1200 Amount at the end of first year = Rs 12000 + Rs 1200 = 13200 Principal for the second year = Rs 13200 Interest for the second year = Rs × × = Rs 1320 Amount at the end of second year = Rs 13200 + Rs 1320 = Rs 14520 Principal for the third year = Rs 14520 Interest for the third year = Rs × × = Rs 1452 Amount at the end of third year = Rs 14520 + Rs 1452 = Rs 15972 Hence, Compound interest for 3 year = Final amount – (original) Principal = Rs 15972 – Rs 12000 = Rs 3972 4. A man invests Rs 46875 at 4% per annum compound interest for 3 years. Calculate: (i) the interest for the first year (ii) the amount standing to his credit at the end of second year (iii) the interest for the third year Solution: (i) Principal for the first year = Rs 46875 Rate of interest = 4% per annum Therefore, Interest for the first year = Rs " × × We get, = Rs " = Rs 1875 Hence, interest for the first year is Rs 1875 (ii) Amount at the end of first year = Rs 46875 + Rs 1875 We get, = Rs 48750 Principal for the second year = Rs 48750 Interest for the second year = Rs " × × = Rs " Page 5 1. Calculate the compound interest on Rs 6000 at 10% per annum for two years. Solution: Given Rate of interest = 10% per annum Principal for the first year = Rs 6000 Interest for the first year = Rs × × = Rs 600 Amount at the end of first year = Rs 6000 + Rs 600 = Rs 6600 Principal for the second year = Rs 6600 Interest for the second year = Rs × × = Rs 660 Amount for the second year = Rs 6600 + Rs 660 = Rs 7260 Therefore, compound interest for 2 years = final amount – (original) Principal = Rs 7260 – Rs 6000 We get, = Rs 1260 2. Salma borrowed from Mahila Samiti a sum of Rs 1875 to purchase a sewing machine. If the rate of interest is 4% per annum, what is the compound interest that she has to pay after 2 years? Solution: Principal for the first year = Rs 1875 Rate of interest = 4% p.a. Interest for the first year = Rs " × × = 75 Amount at the end of first year = Rs 1875 + Rs 75 = Rs 1950 Principal for the second year = Rs 1950 Interest for the second year = Rs × × = 78 Amount at the end of second year = Rs 1950 + Rs 78 = Rs 2028 Hence, Compound interest paid by Salma = Final amount – (original) Principal = Rs 2028 – Rs 1875 = Rs 153 3. Jacob invests Rs 12000 for 3 years at 10% per annum. Calculate the amount and the compound interest that Jacob will get after 3 years. Solution: Principal for the first year = Rs 12000 Rate of interest = 10% p.a. Interest for the first year = Rs × × = Rs 1200 Amount at the end of first year = Rs 12000 + Rs 1200 = 13200 Principal for the second year = Rs 13200 Interest for the second year = Rs × × = Rs 1320 Amount at the end of second year = Rs 13200 + Rs 1320 = Rs 14520 Principal for the third year = Rs 14520 Interest for the third year = Rs × × = Rs 1452 Amount at the end of third year = Rs 14520 + Rs 1452 = Rs 15972 Hence, Compound interest for 3 year = Final amount – (original) Principal = Rs 15972 – Rs 12000 = Rs 3972 4. A man invests Rs 46875 at 4% per annum compound interest for 3 years. Calculate: (i) the interest for the first year (ii) the amount standing to his credit at the end of second year (iii) the interest for the third year Solution: (i) Principal for the first year = Rs 46875 Rate of interest = 4% per annum Therefore, Interest for the first year = Rs " × × We get, = Rs " = Rs 1875 Hence, interest for the first year is Rs 1875 (ii) Amount at the end of first year = Rs 46875 + Rs 1875 We get, = Rs 48750 Principal for the second year = Rs 48750 Interest for the second year = Rs " × × = Rs " We get, = Rs 1950 Amount at the end of second year = Rs 48750 + Rs 1950 We get, = Rs 50700 Hence, the amount at the end of second year is Rs 50700 (iii) Principal for the third year = Rs 50700 Interest for the third year = Rs × × We get, = Rs 507 × 4 = Rs 2028 Hence, the interest for the third year is Rs 2028 5. Calculate the compound interest for the second year on Rs 6000 invested for 3 years at 10% p.a. Also find the sum due at the end of third year. Solution: Principal for the first year = Rs 6000 Rate of interest = 10% p.a. Interest for the first year = Rs × × = Rs 600 Amount at the end of first year = Rs 6000 + Rs 600 = Rs 6600Read More
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Apr 26, 2026 Last updated
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