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Sum

At what per cent per annum will Rs.6,000 amount to Rs.6,615 in 2 years when interest is compounded annually?

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Solution

Amount = `"P"( 1 + r/100)^n`

⇒ 6,615 = `6,000( 1 + r/100 )^2`

⇒ `( 1 + r/100 )^2 = [6,615]/[6,000]`

⇒  1 + `r/100 = 21/20`

= r = 5%

At 5% per annum the sum of Rs. 6,000 amounts to Rs. 6,615 in 2 years when the interest is compounded annually.

Concept: Concept of Compound Interest - Inverse Formula

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Chapter 3: Compound Interest (Using Formula) - Exercise 3 (A) [Page 44]

Q 9Q 8Q 10

APPEARS IN

Selina Concise Mathematics Class 9 ICSE

Chapter 3 Compound Interest (Using Formula)
Exercise 3 (A) | Q 9 | Page 44

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Q. An amount of Rs. 6000 lent at 5% per annum compound interest for 2 years will become:
Answer: [D] Rs. 6615
Notes: $ A = P(1 + \frac{R}{100})^{T}$ $ = 6000(1 + \frac{5}{100})^{2}$ $ = 6000\times \frac{21}{20}\times \frac{21}{20} = 6615\ Rs.$ Hence option [D] is correct answer.

 4

What sum will become Rs 6000 after 2 years at 5% per annum when the interest is compounded annually?

What will be the compound interest on a sum of Rs 6000 /

What is the compound interest on Rs 6000 in 2 years?

At what per cent per annum will Rs 6000 amount to Rs 6615 in 2 years when interest is compounded annually?