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Mr tata invested ₹7200 in a finance company if the company pays interest at 16% per annum determining the amount he will get after 5 years 4 months?
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Mr tata invested ₹7200 in a finance company if the company pays intere...
Investment Details:
- Mr. Tata invested ₹7200 in a finance company.
- The company pays interest at a rate of 16% per annum.
Calculation:
To determine the amount Mr. Tata will get after 5 years and 4 months, we need to calculate the interest earned on the principal amount.
Step 1: Calculate the interest earned for 5 years:
- The interest is calculated using the formula: Interest = (Principal * Rate * Time) / 100.
- Here, Principal = ₹7200, Rate = 16% per annum, and Time = 5 years.
- Substituting the values, we get: Interest = (7200 * 16 * 5) / 100 = ₹5760.
Step 2: Calculate the interest earned for 4 months:
- The interest for 4 months can be calculated by dividing the interest earned for 1 year by 12 and then multiplying it by 4.
- The interest for 1 year is ₹5760.
- So, the interest for 4 months is (5760 / 12) * 4 = ₹1920.
Step 3: Calculate the total amount:
- The total amount Mr. Tata will get is the sum of the principal amount and the interest earned.
- Total amount = Principal + Interest = ₹7200 + ₹5760 + ₹1920 = ₹14880.
Therefore, Mr. Tata will receive ₹14880 after 5 years and 4 months of investment in the finance company.
- Mr. Tata invested ₹7200 in a finance company.
- The company pays interest at a rate of 16% per annum.
Calculation:
To determine the amount Mr. Tata will get after 5 years and 4 months, we need to calculate the interest earned on the principal amount.
Step 1: Calculate the interest earned for 5 years:
- The interest is calculated using the formula: Interest = (Principal * Rate * Time) / 100.
- Here, Principal = ₹7200, Rate = 16% per annum, and Time = 5 years.
- Substituting the values, we get: Interest = (7200 * 16 * 5) / 100 = ₹5760.
Step 2: Calculate the interest earned for 4 months:
- The interest for 4 months can be calculated by dividing the interest earned for 1 year by 12 and then multiplying it by 4.
- The interest for 1 year is ₹5760.
- So, the interest for 4 months is (5760 / 12) * 4 = ₹1920.
Step 3: Calculate the total amount:
- The total amount Mr. Tata will get is the sum of the principal amount and the interest earned.
- Total amount = Principal + Interest = ₹7200 + ₹5760 + ₹1920 = ₹14880.
Therefore, Mr. Tata will receive ₹14880 after 5 years and 4 months of investment in the finance company.
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Mr tata invested ₹7200 in a finance company if the company pays interest at 16% per annum determining the amount he will get after 5 years 4 months?
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Mr tata invested ₹7200 in a finance company if the company pays interest at 16% per annum determining the amount he will get after 5 years 4 months? for Class 5 2024 is part of Class 5 preparation. The Question and answers have been prepared according to the Class 5 exam syllabus. Information about Mr tata invested ₹7200 in a finance company if the company pays interest at 16% per annum determining the amount he will get after 5 years 4 months? covers all topics & solutions for Class 5 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Mr tata invested ₹7200 in a finance company if the company pays interest at 16% per annum determining the amount he will get after 5 years 4 months?.
Mr tata invested ₹7200 in a finance company if the company pays interest at 16% per annum determining the amount he will get after 5 years 4 months? for Class 5 2024 is part of Class 5 preparation. The Question and answers have been prepared according to the Class 5 exam syllabus. Information about Mr tata invested ₹7200 in a finance company if the company pays interest at 16% per annum determining the amount he will get after 5 years 4 months? covers all topics & solutions for Class 5 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Mr tata invested ₹7200 in a finance company if the company pays interest at 16% per annum determining the amount he will get after 5 years 4 months?.
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