Mathematics
For each of the following cases, take time (n) = 1 year, rate of interest per year (r) = 6% and sum invested (P) = ₹ 4,000. - When the interest is compounded every four months, then N = the number of times the interest is compounded in one year = = 3. ∴ A = n×N = ₹ 4,000 1×3 = ₹ 4,244.83 - When the interest is compounded half-yearly, i.e. two times in a year ⇒ N = 2 ∴ A = n×N = ₹ 4,000 1×2 = ₹ 4,243.60 (a) Calculate the amount when the interest is compounded quarterly. (b) What to do you observe from the two cases discussed above ?
Related Questions
A certain sum of money invested at CI triples itself in 8 year interest being payable annually. In how many years will it be 81 times?
A certain sum of money doubles itself at a given rate in 8 years compounded yearly. In how many years will it be four times at the same rate compounded yearly ?
Mr. Sharma wants to divide ₹ 1,68,200 between his two sons who are 16 years and 18 years old respectively, in such a way that the sum invested at the rate of 5% p.a compound interest annually will give the same amount to each when they attain the age of 21 years. How much should he divide the sum ?
In the year 2024-25 period, India collected approximately 1.46 crore (14.6 million) units of blood, which was about 15% more than the previous year. This volume is roughly equal to the estimated annual national requirement, indicating progress toward meeting demand. The Indian Red Cross Society (IRCS) typically collects around 30,000 units per year as per the report in 2024-25.
![In the year 2024-25 period, India collected approximately 1.46 crore (14.6 million) units of blood, which was about 15% more than the previous year. This volume is roughly equal to the estimated annual national requirement, indicating progress toward meeting demand. The Indian Red Cross Society (IRCS) typically collects around 30,000 units per year as per the report in 2024-25. Compound Interest (Stage 2) [Applications], Concise Mathematics Solutions ICSE Class 9.](https://cdn1.knowledgeboat.com/img/cm9/q2-case-study-c3-icse-class-9-concise-maths-upd-2027-1200x1242.png)
Based on the above information, answer the following :
(i) If the number of blood donors increases by 15% every year, then what will be the number of units to be collected by IRCS in the year 2026-27.
(ii) If 2024-25 is taken as a base year and it is predicted that the number of units to be collected by IRCS in 3 years will be 39,930, then what will be rate of increase of donors?