Mathematics
At the beginning of year 2011, a man had ₹ 22,000 in his bank account. He saved some money by the end of this year and deposited it in the bank. The bank pays 10% per annum compound interest and at the end of year 2012 he had ₹ 39,820 in his bank account. Find, what amount of money he had saved and deposited in his account at the end of year 2011 .
Related Questions
Amit borrowed ₹ 20,000 at 12% per annum compound interest. If he pays 40% of the sum borrowed at the end of the first year and 40% of the sum borrowed at the end of the second year, find the amount of loan outstanding at the beginning of the third year.
Garima borrowed ₹ 40,000 at 10% p.a. simple interest. She immediately inverted this money at 10% p.a., compounded half-yearly. Calculate Garima's gain in 18 months.
A sum of ₹ 16,000, invested at simple interest, amounts to ₹ 22,400 in 4 years at a certain rate of interest. If the same sum of money is invested for 2 years at the same rate of interest, compounded p.a., find the compound interest earned.
If the amounts of two consecutive years on a sum of money are in the ratio 20 : 21, find the rate of interest.