How do you calculate compound interest on 160000 rupees?

1. Compute the amount and the compound interest in each of the following by using the formulae when : (vii) Principal = Rs 160000, Rate = 10 paise per rupee per annum compounded half yearly, Time = 2 years. Compound interest (CI) = A-P = Rs 3307.5 – 3000 = Rs 307.5

How do you calculate compound interest after 2 years?

The compound interest of the second year is calculated based on the balance of $110 instead of the principal of $100. Thus, the interest of the second year would come out to: $110 × 10\% × 1 year = $11 The total compound interest after 2 years is $10 + $11 = $21 versus $20 for the simple interest.

What is the 6\% compound interest rate compounded daily?

Hence, if a two-year savings account containing $1,000 pays a 6\% interest rate compounded daily, it will grow to $1,127.49 at the end of two years. Continuously compounding interest represents the mathematical limit that compound interest can reach within a specified period. The continuous compound equation is represented by the equation below:

How much money did Romesh borrow from Ramu?

12. Romesh borrowed a sum of Rs. 245760 at 12.5\% per annum, compounded annually. On the same day, he lent out his money to Ramu at the same rate of interest, but compounded semi-annually. Find his gain after 2 years.

What is the rate of compound interest on a sum of 2000?

The interest on a sum of Rs. 2000 is being compounded annually at the rate of 4\% per annum. Find the period for which the compound interest is Rs. 163.20. 8. In how much time would Rs. 5000 amount to Rs. 6655 at 10\% per annum compound interest?

What is the rate of interest on the sum Rachana borrowed?

6. Rachana borrowed a certain sum at the rate of 15\% per annum. If she paid at the end of two years Rs. 1290 as interest compounded annually, find the sum she borrowed. 7. The interest on a sum of Rs. 2000 is being compounded annually at the rate of 4\% per annum.