Harish deposited ₹ 4500 in an account that earns 3.5% interest compounded annually.what is his account balance after 2 years?​

Question

Harish deposited ₹ 4500 in an account that earns 3.5% interest compounded annually.what is his account balance after 2 years?​

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Ruby 2 weeks 2021-09-13T21:36:57+00:00 2 Answers 0 views 0

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    0
    2021-09-13T21:38:01+00:00

    \sf{\underline{\boxed{\large{\blue{\mathsf{Solution}}}}}}

    \sf{\bold{\green{\underline{\underline{Given}}}}}

    • Principle = Rs. 4500
    • Rate = 3.5%
    • Time = 2 years

    _______________________

    \sf{\bold{\green{\underline{\underline{To\:Find}}}}}

    • Amount = ???

    ______________________

    \sf{\bold{\green{\underline{\underline{Solution}}}}}

    \sf{\red{\boxed{\bold{Amount= p( 1 + \dfrac{r}{100})^t}}}}

    ⠀⠀⠀⠀

    : \sf\implies\:{\bold{ Amount = 4500( 1 + \dfrac{3.5}{100})^2 }}

    ⠀⠀⠀⠀

    : \sf\implies\:{\bold{ Amount = 4500( 1 + \dfrac{35}{1000})^2 }}

    ⠀⠀⠀⠀

    : \sf\implies\:{\bold{ Amount = 4500( \dfrac{1000+ 35}{1000})^2 }}

    ⠀⠀

    : \sf\implies\:{\bold{ Amount = 4500(\dfrac{1035}{1000})^2}}

    ⠀⠀⠀⠀

    : \sf\implies\:{\bold{ Amount = 4500\times\dfrac{1035\times 1035}{1000\times 1000} }}

    ⠀⠀⠀⠀

    : \sf\implies\:{\bold{ Amount = 45\times\dfrac{1035\times 1035}{10000} }}

    ⠀⠀⠀⠀

    : \sf\implies\:{\bold{ Amount = 45\times \dfrac{1071225}{10000} }}

    ⠀⠀⠀⠀

    : \sf\implies\:{\bold{ Amount = \dfrac{48205125}{10000} }}

    ⠀⠀⠀⠀

    : \sf\implies\:{\bold{ Amount = Rs. 4820.5125}}

    ⠀⠀⠀⠀

    : \sf\implies\:{\bold{ Amount = Rs. 4820.51 }}

    ⠀⠀⠀⠀

    ⠀⠀⠀⠀

    ______________________

    \sf{\bold{\green{\underline{\underline{Answer}}}}}

    • Harishs accounts balance after 2 years will be Rs. 4820.51
    0
    2021-09-13T21:38:23+00:00

    Answer:

    Answer – A

    Explanation

    Let the sum borrowed be Z. Then,

    (Zx6x2⁄100) + (Zx9x3⁄100) + (Zx14x4⁄100) = 11400

    Therefore, 3Z⁄25 + 27Z⁄100 + 14Z⁄25) = 11400

    ? 95Z⁄100 = 11400

    Z = (11400×100⁄95) = 12000

    Q 2 – A certain sum of money amounts to Rs. 1008 in 2 years and to Rs. 1164 in 31⁄2 years. find the sum and the rate of interest?

    A – Rs. 800, Rate 14%

    B – Rs. 850, Rate 12%

    C – Rs. 800, Rate 13%

    D – Rs. 500, Rate 13%

    Answer – C

    Explanation

    S.I. for 11⁄2years = Rs. (1164-1008)

    =156

    S.I. for 2 years = Rs. (156 x 2⁄3 x 2) = Rs. 208

    Principal = Rs. (1008 – 208) = Rs. 800

    Now, P = 800, T = 2, and S.I. = 208

    Rate = (100×208⁄800×2)% = 13%

    Q 3 – At what rate percent per annum will a sum of money double in 16 years?

    A – 5%

    B – 3%

    C – 4%

    D – 61⁄4%

    Answer – D

    Explanation

    Let Principal = P, Then,

    S.I. = P and T = 16 years

    Rate = (100xP⁄Px16)%

    = 6(1⁄4)

    Q 4 – The simple interest on a certain sum of money for 21⁄2 years at 12% per annum is Rs. 40 less than the simple interest on the same sum for 31⁄2 years at 10% per annum. Find the sum?

    A – 400

    B – 800

    C – 1600

    D – 500

    Answer – B

    Explanation

    Let the sum be Z then,

    (Zx10x7⁄100×2) – (Zx12x5⁄100×2)

    =40

    7Z⁄20 – 3Z⁄10 = 40

    Z = 40 x 20

    The sum is Rs. 800

    Q 5 – A sum was put at simple interest at a certain rate for 3 years. Had it been put at 2% higher rate, it would have fetched Rs. 360 more. Find the sum?

    A – 10000

    B – 6000

    C – 15000

    D – 6500

    Answer – B

    Explanation

    Let the sum be = P and original rate = R. Then,

    (Px(R+2)x3⁄100) – (PxRx3⁄100) = 360

    3PR + 6P – 3PR =36000

    6P = 36000

    P=6000

    Q 6 – A person borrows Rs. 5000 for 2 years at 4% p.a. simple interest. he immediately lends it to another person at 6 1⁄4% p.a. for 2 years find his gain in the transaction per year?

    A – 112

    B – 112.50

    C – 110

    D – 100

    Answer – B

    Explanation

    Gain in 2 years = Rs. [(5000x25x⁄42⁄100) – (500x4x2⁄100)]

    = Rs. (625 – 400)

    = Rs. 225

    Gain in 1 year = Rs. (225⁄2)

    = Rs. 112.50

    Q 7 – How much time for an amount of Rs. 450 to yield Rs. 81 as interest at 4.5% per annum of simple interest?

    A – 4

    B – 5

    C – 4.5

    D – 6

    Answer – A

    Explanation

    Time = (100 x 81⁄450 x 4.5)

    = 4 years

    Q 8 – A sum of Rs. 12,500 amounts to Rs. 15,500 in 4 years at the rate of simple interest. What is the rate of interest?

    A – 6

    B – 6.5

    C – 5

    D – 6.75

    Answer – A

    Explanation

    S.I. = Rs. (15500 – 12500) = Rs. 3000

    Rate = (100 x 3000⁄12500 x 4)

    = 6%

    Q 9 – Reema took a loan of Rs. 1200 with simple interest for as many years as the rate of interest. If she paid Rs. 432 as interest at the end of loan period, what was the rate of interest?

    A – 10

    B – 5

    C – 6

    D – 7

    Answer – C

    Explanation

    Let Rate = R% and time also R years. Then,

    (1200 x R x R⁄100) = 432

    = 12R2 = 432

    R2 = 36

    R=6

    Q 10 – A man took a loan from a bank at the rate of 12% p.a. simple interest. After 3 years he had to pay Rs. 5400 interest only for the period. The principal amount borrowed b him was?

    A – 10000

    B – 15000

    C – 15500

    D – 6500

    Answer – B

    Explanation

    Principal = Rs. (100 x 5400⁄12 x 3)

    = Rs. 15000

    Q 11 – what is the present worth of Rs. 132 due in 2 years at 5% simple interest per annum?

    A – 120

    B – 150

    C – 155

    D – 650

    Answer – A

    Explanation

    Let the present worth be Rs. z then,

    S.I. = Rs. (132 – z)

    therefore (zx5x2⁄100) = 132 – z

    10z = 13200 – 100z

    110z = 13200

    z = 120

    Q 12 – A sum fetched a total simple interest of Rs. 4016.25 at the rate of 9 p.c.p.a in 5 years. What is the sum?

    A – 10000

    B – 8500

    C – 9000

    D – 8925

    Answer – B

    Explanation

    Principal = (100 x 4016.25⁄9 x 5)

    (401625⁄45)

    = 8925

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