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The SI on a sum of 8000 at a certain rate per cent annum for 3 years is 3600. what will be the amount of the same sum after 2 years at the same rate,if the interest is compounded 8-monthly?
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The SI on a sum of 8000 at a certain rate per cent annum for 3 years i...
Understanding the Problem:
In this problem, we are given that the Simple Interest on a sum of 8000 at a certain rate per cent annum for 3 years is 3600. We need to find the amount of the same sum after 2 years at the same rate if the interest is compounded 8-monthly.
Calculating the Rate of Interest:
We know that Simple Interest (SI) is given by the formula:
SI = P * R * T / 100
Given, SI = 3600, P = 8000, T = 3 years
By substituting the values in the formula, we can calculate the rate of interest (R).
Calculating the Amount after 2 years:
To calculate the amount after 2 years with compound interest, we use the formula:
A = P * (1 + r/n)^(nt)
Where,
A = Amount
P = Principal amount (8000)
r = Rate of interest (calculated in the previous step)
n = Number of times interest is compounded per year (8-monthly means 3 times a year)
t = Time in years (2 years)
Calculating the Amount:
Now, substitute the values in the formula to find the amount after 2 years.
Final Answer:
Calculate the amount using the formula, and the result will be the amount of the same sum after 2 years at the same rate with interest compounded 8-monthly.
In this problem, we are given that the Simple Interest on a sum of 8000 at a certain rate per cent annum for 3 years is 3600. We need to find the amount of the same sum after 2 years at the same rate if the interest is compounded 8-monthly.
Calculating the Rate of Interest:
We know that Simple Interest (SI) is given by the formula:
SI = P * R * T / 100
Given, SI = 3600, P = 8000, T = 3 years
By substituting the values in the formula, we can calculate the rate of interest (R).
Calculating the Amount after 2 years:
To calculate the amount after 2 years with compound interest, we use the formula:
A = P * (1 + r/n)^(nt)
Where,
A = Amount
P = Principal amount (8000)
r = Rate of interest (calculated in the previous step)
n = Number of times interest is compounded per year (8-monthly means 3 times a year)
t = Time in years (2 years)
Calculating the Amount:
Now, substitute the values in the formula to find the amount after 2 years.
Final Answer:
Calculate the amount using the formula, and the result will be the amount of the same sum after 2 years at the same rate with interest compounded 8-monthly.
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The SI on a sum of 8000 at a certain rate per cent annum for 3 years is 3600. what will be the amount of the same sum after 2 years at the same rate,if the interest is compounded 8-monthly?
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The SI on a sum of 8000 at a certain rate per cent annum for 3 years is 3600. what will be the amount of the same sum after 2 years at the same rate,if the interest is compounded 8-monthly? for UPSC 2024 is part of UPSC preparation. The Question and answers have been prepared according to the UPSC exam syllabus. Information about The SI on a sum of 8000 at a certain rate per cent annum for 3 years is 3600. what will be the amount of the same sum after 2 years at the same rate,if the interest is compounded 8-monthly? covers all topics & solutions for UPSC 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for The SI on a sum of 8000 at a certain rate per cent annum for 3 years is 3600. what will be the amount of the same sum after 2 years at the same rate,if the interest is compounded 8-monthly?.
The SI on a sum of 8000 at a certain rate per cent annum for 3 years is 3600. what will be the amount of the same sum after 2 years at the same rate,if the interest is compounded 8-monthly? for UPSC 2024 is part of UPSC preparation. The Question and answers have been prepared according to the UPSC exam syllabus. Information about The SI on a sum of 8000 at a certain rate per cent annum for 3 years is 3600. what will be the amount of the same sum after 2 years at the same rate,if the interest is compounded 8-monthly? covers all topics & solutions for UPSC 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for The SI on a sum of 8000 at a certain rate per cent annum for 3 years is 3600. what will be the amount of the same sum after 2 years at the same rate,if the interest is compounded 8-monthly?.
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