Mathematics
Ashok borrowed ₹ 12000 at some rate per cent compound interest. After a year, he paid back ₹ 4000. If compound interest for the second year be ₹ 920, find :
(i) the rate of interest charged
(ii) the amount of debt at the end of the second year.
Related Questions
Find the sum on which the difference between the simple interest and the compound interest at the rate of 8% per annum compounded annually be ₹ 64 in 2 years.
A sum of ₹ 13500 is invested at 16% per annum compound interest for 5 years. Calculate :
(i) the interest for the first year.
(ii) the amount at the end of the first year.
(iii) the interest for the second year, correct to the nearest rupee.
Saurabh invests ₹ 48000 for 7 years at 10% per annum compound interest. Calculate :
(i) the interest for the first year.
(ii) the amount at the end of second year.
(iii) the interest for the third year.
On a certain sum of money, let out at C.I., interests for first, second and third years are ₹ 1500; ₹ 1725 and ₹ 2070 respectively. Find the rate of interest for the (i) second year (ii) third year.