Mathematics
A man invests ₹3072 for two years at compound interest. After one year the money amounts to ₹3264. Find the rate of interest and the amount due at the end of 2nd year.
Related Questions
Assertion (A): Two friends invest the same amount of money for the same time (> 2 years) at the same rate of interest. One earns simple interest, but the other earns compound interest. Then both will get the same amount of money back at the end of investment.
Reason (R): The principal for each conversion period increases for the compound interest calculation.
Assertion (A) is true, Reason (R) is false.
Assertion (A) is false, Reason (R) is true.
Both Assertion (A) and Reason (R) are true, and Reason (R) is the correct reason for Assertion (A).
Both Assertion (A) and Reason (R) are true, but Reason (R) is not the correct reason (or explanation) for Assertion (A).
₹10000 was lent for one year at 10% per annum. By how much more will the interest be, if the sum was lent at 10% per annum, interest being compounded half-yearly?
What sum will amount to ₹28090 in two years at 6% per annum compound interest? Also find the compound interest.
Two equal sums were lent at 5% and 6% per annum compound interest for 2 years. If the difference in the compound interest was ₹422, find :
(i) the equal sums
(ii) compound interest for each sum.