Maths-

General

Easy

Question

# At what rate % p.a will a sum of Rs4000 yield 1324 as compound interest in 3 yrs

Hint:

### Use the formula of compound interest to get the rate of interest.

## The correct answer is: 10%

### Complete step by step solution:

We know that compound interest = Total amount - principal amount that is, CI = A - P …(i)

We know that …(ii)

Here, we have T = 3 years, P = 4000 and R = ?

On substituting the known values in (ii), we get

Given that CI = 1324,

On substituting the known values in (i), we get

On adding 4000 on both the sides, we have

Divide on both sides by 4000.

On dividing we have,

So, at 10% pa per annum will a sum of Rs 4000 yield 1324 as compound interest in 3 years.

So, at 10% pa per annum will a sum of Rs 4000 yield 1324 as compound interest in 3 years.

### Related Questions to study

Maths-

### The compound interest, calculated yearly, on a certain sum of money for the second year is Rs1320 and for the third year is Rs1452. Calculate the rate of interest and the original sum of money.

### The compound interest, calculated yearly, on a certain sum of money for the second year is Rs1320 and for the third year is Rs1452. Calculate the rate of interest and the original sum of money.

Maths-General

Maths-

### Ranbir borrows Rs20,000 at 12% per annum compound interest. If he repays Rs8400 at the end of the first year and Rs9680 at the end of the second year. Find the amount of loan outstanding at the beginning of the third year.

### Ranbir borrows Rs20,000 at 12% per annum compound interest. If he repays Rs8400 at the end of the first year and Rs9680 at the end of the second year. Find the amount of loan outstanding at the beginning of the third year.

Maths-General

Maths-

### The present population of a town is 200000. Its population increases by 10% in the first year and 15% in the second year. Find the population of the town at the end of the two years.

### The present population of a town is 200000. Its population increases by 10% in the first year and 15% in the second year. Find the population of the town at the end of the two years.

Maths-General

Maths-

### In what time will Rs1500 yield Rs1996.50 as compound interest at 10% per annum compounded annually?

### In what time will Rs1500 yield Rs1996.50 as compound interest at 10% per annum compounded annually?

Maths-General

Maths-

### Mr. utter invested Rs5000 at a certain rate of interest, compounded annually for two years. At the end of the first year, it amounts to Rs5325. Calculate (i) The rate of interest (ii) The amount at the end of the second year, to the nearest rupee.

### Mr. utter invested Rs5000 at a certain rate of interest, compounded annually for two years. At the end of the first year, it amounts to Rs5325. Calculate (i) The rate of interest (ii) The amount at the end of the second year, to the nearest rupee.

Maths-General

Maths-

### On a certain sum of money, the difference between the compound interest for a year payable half-yearly and the simple interest for a year is 16. Find the sum lent out; if the rate of interest in both cases is 8%.

### On a certain sum of money, the difference between the compound interest for a year payable half-yearly and the simple interest for a year is 16. Find the sum lent out; if the rate of interest in both cases is 8%.

Maths-General

Maths-

### A person invests Rs6000 at 14% interest for 2 years. Calculate

(i) the interest for the 1^{st} year

(ii) the amount at the end of the first year

(iii) the interest for the second year.

### A person invests Rs6000 at 14% interest for 2 years. Calculate

(i) the interest for the 1^{st} year

(ii) the amount at the end of the first year

(iii) the interest for the second year.

Maths-General

Maths-

### At what percent by simple interest will a sum of money double itself in 5 years 4 months?

### At what percent by simple interest will a sum of money double itself in 5 years 4 months?

Maths-General

Maths-

### A sum of money lent out at simple interest amounts to Rs. 1240 in 4 years and Rs 1360 in 6 years. Find the sum and rate percent?

### A sum of money lent out at simple interest amounts to Rs. 1240 in 4 years and Rs 1360 in 6 years. Find the sum and rate percent?

Maths-General

Maths-

### The simple interest on a certain sum is 16/25 of the sum. Find the rate percent and time if both are numerically equal?

### The simple interest on a certain sum is 16/25 of the sum. Find the rate percent and time if both are numerically equal?

Maths-General

Maths-

### At what rate percent per annum, simple interest will be Rs. 3600 amount to Rs. 4734 in 3 ½ years?

### At what rate percent per annum, simple interest will be Rs. 3600 amount to Rs. 4734 in 3 ½ years?

Maths-General

Maths-

### A group of friends decided to divide the cost of a trip equally among themselves. When two of the friends decided not to go on the trip, those remaining still divided the cost equally, but each friend's share of the cost increased by. How many friends were in the group originally?

### A group of friends decided to divide the cost of a trip equally among themselves. When two of the friends decided not to go on the trip, those remaining still divided the cost equally, but each friend's share of the cost increased by. How many friends were in the group originally?

Maths-General

Maths-

### Jaime is preparing for a bicycle race. His goal is to bicycle an average of at least 280 miles per week for 4 weeks. He bicycled 240 miles the first week, 310 miles the second week, and 320 miles the third week. Which inequality can be used to represent the number of miles, x , Jaime could bicycle on the 4th week to meet his goal?

### Jaime is preparing for a bicycle race. His goal is to bicycle an average of at least 280 miles per week for 4 weeks. He bicycled 240 miles the first week, 310 miles the second week, and 320 miles the third week. Which inequality can be used to represent the number of miles, x , Jaime could bicycle on the 4th week to meet his goal?

Maths-General

Maths-

### A website-hosting service charges businesses a onetime setup fee of plus dollars for each month. If a business owner paid for the first 12 months, including the setup fee, what is the value of ?

### A website-hosting service charges businesses a onetime setup fee of plus dollars for each month. If a business owner paid for the first 12 months, including the setup fee, what is the value of ?

Maths-General

Maths-

What value of satisfies the equation above?

What value of satisfies the equation above?

Maths-General