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The compund interest on half yearly rests on Rs.10000 the rate for the first and second years being 6% and for third year 9% p.a is?
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The compund interest on half yearly rests on Rs.10000 the rate for the...
Compound Interest Calculation:
Calculate the compound interest on Rs. 10,000 with half-yearly rests for three years with different rates.
Given Information:
- Principal amount (P) = Rs. 10,000
- Rate for the first and second years = 6%
- Rate for the third year = 9%
- Time = 3 years
Calculation:
Step 1: Calculate the interest for the first two years
- Rate for the first and second years = 6%
- Time for the first two years = 2 years
- Using the formula for compound interest: A = P(1 + r/n)^(nt)
- A = 10000(1 + 0.06/2)^(2*2) = 10000(1.03)^4 ≈ Rs. 11255.12
Step 2: Calculate the principal amount for the third year
- Principal amount at the end of the second year = Rs. 11255.12
- Rate for the third year = 9%
- Time for the third year = 1 year
- Using the formula for compound interest: A = P(1 + r/n)^(nt)
- A = 11255.12(1 + 0.09/2)^(2*1) = 11255.12(1.045)^2 ≈ Rs. 12055.40
Step 3: Calculate the compound interest for the third year
- Principal amount at the beginning of the third year = Rs. 11255.12
- Principal amount at the end of the third year = Rs. 12055.40
- Interest for the third year = 12055.40 - 11255.12 ≈ Rs. 800.28
Final Answer:
- The compound interest for the third year at a rate of 9% is approximately Rs. 800.28.
Calculate the compound interest on Rs. 10,000 with half-yearly rests for three years with different rates.
Given Information:
- Principal amount (P) = Rs. 10,000
- Rate for the first and second years = 6%
- Rate for the third year = 9%
- Time = 3 years
Calculation:
Step 1: Calculate the interest for the first two years
- Rate for the first and second years = 6%
- Time for the first two years = 2 years
- Using the formula for compound interest: A = P(1 + r/n)^(nt)
- A = 10000(1 + 0.06/2)^(2*2) = 10000(1.03)^4 ≈ Rs. 11255.12
Step 2: Calculate the principal amount for the third year
- Principal amount at the end of the second year = Rs. 11255.12
- Rate for the third year = 9%
- Time for the third year = 1 year
- Using the formula for compound interest: A = P(1 + r/n)^(nt)
- A = 11255.12(1 + 0.09/2)^(2*1) = 11255.12(1.045)^2 ≈ Rs. 12055.40
Step 3: Calculate the compound interest for the third year
- Principal amount at the beginning of the third year = Rs. 11255.12
- Principal amount at the end of the third year = Rs. 12055.40
- Interest for the third year = 12055.40 - 11255.12 ≈ Rs. 800.28
Final Answer:
- The compound interest for the third year at a rate of 9% is approximately Rs. 800.28.
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The compund interest on half yearly rests on Rs.10000 the rate for the first and second years being 6% and for third year 9% p.a is?
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The compund interest on half yearly rests on Rs.10000 the rate for the first and second years being 6% and for third year 9% p.a is? for CA Foundation 2024 is part of CA Foundation preparation. The Question and answers have been prepared according to the CA Foundation exam syllabus. Information about The compund interest on half yearly rests on Rs.10000 the rate for the first and second years being 6% and for third year 9% p.a is? covers all topics & solutions for CA Foundation 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for The compund interest on half yearly rests on Rs.10000 the rate for the first and second years being 6% and for third year 9% p.a is?.
The compund interest on half yearly rests on Rs.10000 the rate for the first and second years being 6% and for third year 9% p.a is? for CA Foundation 2024 is part of CA Foundation preparation. The Question and answers have been prepared according to the CA Foundation exam syllabus. Information about The compund interest on half yearly rests on Rs.10000 the rate for the first and second years being 6% and for third year 9% p.a is? covers all topics & solutions for CA Foundation 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for The compund interest on half yearly rests on Rs.10000 the rate for the first and second years being 6% and for third year 9% p.a is?.
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