Class 8 Exam > Class 8 Questions > Find the amount on Rs.12500 for 2 years compo...
Start Learning for Free
Find the amount on Rs.12500 for 2 years compounded annually, the rate of interest being 15% for the first year and 16% for the second year.
- a)Rs.16500
- b)Rs.16750
- c)Rs.16675
- d)Rs.16275
Correct answer is option 'C'. Can you explain this answer?
| FREE This question is part of | Download PDF Attempt this Test |
Verified Answer
Find the amount on Rs.12500 for 2 years compounded annually, the rate ...
Most Upvoted Answer
Find the amount on Rs.12500 for 2 years compounded annually, the rate ...
Given:
Principal amount (P) = Rs.12500
Rate of interest for the first year (R1) = 15%
Rate of interest for the second year (R2) = 16%
Time (T) = 2 years
To find:
Amount after 2 years compounded annually
Solution:
To find the amount after 2 years compounded annually, we can use the formula for compound interest:
Amount (A) = P(1 + R/100)^T
Where,
A = Amount after T years
P = Principal amount
R = Rate of interest
T = Time in years
Calculation:
For the first year:
Principal amount (P1) = Rs.12500
Rate of interest (R1) = 15%
Time (T1) = 1 year
Amount after the first year (A1) = P1(1 + R1/100)^T1
= 12500(1 + 15/100)^1
= 12500(1 + 0.15)
= 12500(1.15)
= Rs.14375
Now, for the second year:
Principal amount (P2) = A1 (amount after the first year)
= Rs.14375
Rate of interest (R2) = 16%
Time (T2) = 1 year
Amount after the second year (A2) = P2(1 + R2/100)^T2
= 14375(1 + 16/100)^1
= 14375(1 + 0.16)
= 14375(1.16)
= Rs.16675
Therefore, the amount after 2 years compounded annually is Rs.16675.
Hence, the correct answer is option 'C' Rs.16675.
Principal amount (P) = Rs.12500
Rate of interest for the first year (R1) = 15%
Rate of interest for the second year (R2) = 16%
Time (T) = 2 years
To find:
Amount after 2 years compounded annually
Solution:
To find the amount after 2 years compounded annually, we can use the formula for compound interest:
Amount (A) = P(1 + R/100)^T
Where,
A = Amount after T years
P = Principal amount
R = Rate of interest
T = Time in years
Calculation:
For the first year:
Principal amount (P1) = Rs.12500
Rate of interest (R1) = 15%
Time (T1) = 1 year
Amount after the first year (A1) = P1(1 + R1/100)^T1
= 12500(1 + 15/100)^1
= 12500(1 + 0.15)
= 12500(1.15)
= Rs.14375
Now, for the second year:
Principal amount (P2) = A1 (amount after the first year)
= Rs.14375
Rate of interest (R2) = 16%
Time (T2) = 1 year
Amount after the second year (A2) = P2(1 + R2/100)^T2
= 14375(1 + 16/100)^1
= 14375(1 + 0.16)
= 14375(1.16)
= Rs.16675
Therefore, the amount after 2 years compounded annually is Rs.16675.
Hence, the correct answer is option 'C' Rs.16675.
Attention Class 8 Students!
To make sure you are not studying endlessly, EduRev has designed Class 8 study material, with Structured Courses, Videos, & Test Series. Plus get personalized analysis, doubt solving and improvement plans to achieve a great score in Class 8.
|
Explore Courses for Class 8 exam
|
|
Similar Class 8 Doubts
Top Courses for Class 8View all
Find the amount on Rs.12500 for 2 years compounded annually, the rate of interest being 15% for the first year and 16% for the second year.a)Rs.16500b)Rs.16750c)Rs.16675d)Rs.16275Correct answer is option 'C'. Can you explain this answer?
Question Description
Find the amount on Rs.12500 for 2 years compounded annually, the rate of interest being 15% for the first year and 16% for the second year.a)Rs.16500b)Rs.16750c)Rs.16675d)Rs.16275Correct answer is option 'C'. Can you explain this answer? for Class 8 2024 is part of Class 8 preparation. The Question and answers have been prepared according to the Class 8 exam syllabus. Information about Find the amount on Rs.12500 for 2 years compounded annually, the rate of interest being 15% for the first year and 16% for the second year.a)Rs.16500b)Rs.16750c)Rs.16675d)Rs.16275Correct answer is option 'C'. Can you explain this answer? covers all topics & solutions for Class 8 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Find the amount on Rs.12500 for 2 years compounded annually, the rate of interest being 15% for the first year and 16% for the second year.a)Rs.16500b)Rs.16750c)Rs.16675d)Rs.16275Correct answer is option 'C'. Can you explain this answer?.
Find the amount on Rs.12500 for 2 years compounded annually, the rate of interest being 15% for the first year and 16% for the second year.a)Rs.16500b)Rs.16750c)Rs.16675d)Rs.16275Correct answer is option 'C'. Can you explain this answer? for Class 8 2024 is part of Class 8 preparation. The Question and answers have been prepared according to the Class 8 exam syllabus. Information about Find the amount on Rs.12500 for 2 years compounded annually, the rate of interest being 15% for the first year and 16% for the second year.a)Rs.16500b)Rs.16750c)Rs.16675d)Rs.16275Correct answer is option 'C'. Can you explain this answer? covers all topics & solutions for Class 8 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Find the amount on Rs.12500 for 2 years compounded annually, the rate of interest being 15% for the first year and 16% for the second year.a)Rs.16500b)Rs.16750c)Rs.16675d)Rs.16275Correct answer is option 'C'. Can you explain this answer?.
Solutions for Find the amount on Rs.12500 for 2 years compounded annually, the rate of interest being 15% for the first year and 16% for the second year.a)Rs.16500b)Rs.16750c)Rs.16675d)Rs.16275Correct answer is option 'C'. Can you explain this answer? in English & in Hindi are available as part of our courses for Class 8.
Download more important topics, notes, lectures and mock test series for Class 8 Exam by signing up for free.
Here you can find the meaning of Find the amount on Rs.12500 for 2 years compounded annually, the rate of interest being 15% for the first year and 16% for the second year.a)Rs.16500b)Rs.16750c)Rs.16675d)Rs.16275Correct answer is option 'C'. Can you explain this answer? defined & explained in the simplest way possible. Besides giving the explanation of
Find the amount on Rs.12500 for 2 years compounded annually, the rate of interest being 15% for the first year and 16% for the second year.a)Rs.16500b)Rs.16750c)Rs.16675d)Rs.16275Correct answer is option 'C'. Can you explain this answer?, a detailed solution for Find the amount on Rs.12500 for 2 years compounded annually, the rate of interest being 15% for the first year and 16% for the second year.a)Rs.16500b)Rs.16750c)Rs.16675d)Rs.16275Correct answer is option 'C'. Can you explain this answer? has been provided alongside types of Find the amount on Rs.12500 for 2 years compounded annually, the rate of interest being 15% for the first year and 16% for the second year.a)Rs.16500b)Rs.16750c)Rs.16675d)Rs.16275Correct answer is option 'C'. Can you explain this answer? theory, EduRev gives you an
ample number of questions to practice Find the amount on Rs.12500 for 2 years compounded annually, the rate of interest being 15% for the first year and 16% for the second year.a)Rs.16500b)Rs.16750c)Rs.16675d)Rs.16275Correct answer is option 'C'. Can you explain this answer? tests, examples and also practice Class 8 tests.
|
|
Explore Courses for Class 8 exam
|
|
Suggested Free Tests
Signup for Free!
Signup to see your scores go up within 7 days! Learn & Practice with 1000+ FREE Notes, Videos & Tests.
|
© EduRev
|
Education Revolution
|
Follow Us
|
Signup to see your scores
go up within 7 days!
Access 1000+ FREE Docs, Videos and Tests
Takes less than 10 seconds to signup