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Efiling Income Tax Returns(ITR) is made easy with ClearTax platform. Just upload your form 16, claim your deductions and get your acknowledgment number online. You can efile income tax return on your income from salary, house property, capital gains, business & profession and income from other sources. Further you can also file TDS returns, generate Form-16, use our Tax Calculator software, claim HRA, check refund status and generate rent receipts for Income Tax Filing. CAs, experts and businesses can get GST ready with ClearTax GST software & certification course. Our GST Software helps CAs, tax experts & business to manage returns & invoices in an easy manner. Our Goods & Services Tax course includes tutorial videos, guides and expert assistance to help you in mastering Goods and Services Tax. ClearTax can also help you in getting your business registered for Goods & Services Tax Law. Save taxes with ClearTax by investing in tax saving mutual funds (ELSS) online. Our experts suggest the best funds and you can get high returns by investing directly or through SIP. Download ClearTax App to file returns from your mobile phone. Complete step-by-step answer: Let the sum which will amount to Rs 6,600 in 4 years @ 8% per annum be P. We know that the interest on the amount P for time t years @ r% per annum is given by $I=\dfrac{P\times r\times t}{100}$ Hence, we have $I=\dfrac{P\times 8\times 4}{100}=\dfrac{8P}{25}$ We know that the amount A is given by $A=I+P$ Hence, we have $A=\dfrac{8P}{25}+P=\dfrac{33P}{25}$ But given that A = 6600 Hence, we have $\dfrac{33P}{25}=6600$ Multiplying both sides by 25, we get $33P=25\times 6600$ Dividing both sides by 33, we get $P=\dfrac{25\times 6600}{33}=25\times 200=5000$ Hence the sum which will amount to Rs 6,600 @ 8% per annum for 4 years at simple interest is Rs. 5000. Hence option (B) is correct. Note: Verification: We have P = 5000, r = 8% and t = 4 years Hence, we have $I=\dfrac{5000\times 8\times 4}{100}=1600$ Hence, we have A = P+I = 5000+1600 = Rs 6,600 Hence our answer is verified to be correct. A. Rs. 600 B. Rs. 6600 C. Rs. 6610 D. Rs. 6615 Solution(By Examveda Team)$$\eqalign{ & {\text{Amount = 6000}}{\left( {1 + \frac{5}{{100}}} \right)^2} \cr & \Rightarrow {\text{Amount = 6000}} \times \frac{{21}}{{20}} \times \frac{{21}}{{20}} \cr & \Rightarrow {\text{Amount = Rs. 6615}} \cr} $$ Sum At what per cent per annum will Rs.6,000 amount to Rs.6,615 in 2 years when interest is compounded annually? Advertisement Remove all ads SolutionAmount = `"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 Is there an error in this question or solution? Advertisement Remove all ads Chapter 3: Compound Interest (Using Formula) - Exercise 3 (A) [Page 44] Q 9Q 8Q 10 APPEARS INSelina Concise Mathematics Class 9 ICSE Chapter 3 Compound Interest (Using Formula) Advertisement Remove all ads No worries! We‘ve got your back. Try BYJU‘S free classes today! Right on! Give the BNAT exam to get a 100% scholarship for BYJUS courses No worries! We‘ve got your back. Try BYJU‘S free classes today! No worries! We‘ve got your back. Try BYJU‘S free classes today! Solution The correct option is BRs 1260: Given, principal (P) = Rs 6000, rate (R) = 10% and n = 2 yearsWe know that,A=P(1+R100)n=6000(1+10100)2=6000(1+110)2=6000(1110)2 (adsbygoogle = window.adsbygoogle || []).push({}); =6000× 1110 × 1110= Rs 7260Compound Interest = Amount − Principal= 7260 − 6000= 1260Hence, the compound interest is Rs 1260.Textbooks Question Papers Home What is the amount of Rs 6000 at 5% per annum for 2 years if the interest is compounded yearly?∴ Amount = Rs.6000 × 110.25% = Rs.6615
The UPTET exam was conducted on 23rd January 2022.
What will be the compound interest on a sum of Rs 6000 /Complete step-by-step answer:
6300 which will be the principal value for second year. So, the amount obtained after the two years is Rs. 6678.
At what annual rate of interest rupees 6000 would become rupees 6615 in 2 years?At 5% per annum the sum of Rs 6,000 amounts to Rs 6,615 in 2 years when the interest is compounded annually. Was this answer helpful?
What will be the compound interest on a sum of 6000 for 2 years at the rate of 10 per annum?So the compound interest on rs. 6000 at 10% per annum for 2 years will be rs. 1260 (Ans.)
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What sum will become rupees 6000 after 2 years at 5% per annum when the interest is compounded annually?
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