CA Foundation Exam > CA Foundation Questions > The compund interest on half yearly rests on ...
Start Learning for Free
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?
Most Upvoted Answer
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.
Attention CA Foundation Students!
To make sure you are not studying endlessly, EduRev has designed CA Foundation study material, with Structured Courses, Videos, & Test Series. Plus get personalized analysis, doubt solving and improvement plans to achieve a great score in CA Foundation.
|
Explore Courses for CA Foundation exam
|
|
Top Courses for CA FoundationView all
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?
Question Description
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?.
Solutions 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? in English & in Hindi are available as part of our courses for CA Foundation.
Download more important topics, notes, lectures and mock test series for CA Foundation Exam by signing up for free.
Here you can find the meaning of 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? defined & explained in the simplest way possible. Besides giving the explanation of
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?, a detailed solution 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? has been provided alongside types of 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? theory, EduRev gives you an
ample number of questions to practice 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? tests, examples and also practice CA Foundation tests.
|
|
Explore Courses for CA Foundation 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