Table of Contents
- 1 What will be the total compound interest for 9 months on Rs 8000 at the rate of 20\% if the interest is compounded quarterly?
- 2 What will be the compound interest accrued on an amount of ₹ 20000 at 20\% pa in 2 years if the interest is compounded half yearly?
- 3 What is the effective rate of interest for 9 compounded monthly?
- 4 How do you calculate compound interest in months?
- 5 What is the compound interest on 2500 for 2 years?
- 6 What is the formula for interest compounded monthly?
- 7 What is the amount after 3 years of compound interest?
- 8 What is the rate of interest on Rs 8000?
What will be the total compound interest for 9 months on Rs 8000 at the rate of 20\% if the interest is compounded quarterly?
So, the compound interest on Rs 8000 at 20\% per annum for 9 months compounded quarterly is 1261.
What will be the compound interest accrued on an amount of ₹ 20000 at 20\% pa in 2 years if the interest is compounded half yearly?
Detailed Solution. ∴ The required answer is Rs 4200.
What is compound interest on an amount of Rs 10000 at 8\% per annum for 2 years?
∴ Compound interest is ₹ 1698.58.
What is the compound interest on Rs 4000 for 9 months?
4000 becomes RS. 630.50 in 9 months.
What is the effective rate of interest for 9 compounded monthly?
Effective Interest Rate Table
| Nominal Rate | Semi-Annually | Monthly |
|---|---|---|
| 9\% | 9.202\% | 9.381\% |
| 10\% | 10.250\% | 10.471\% |
| 11\% | 11.302\% | 11.572\% |
| 12\% | 12.360\% | 12.683\% |
How do you calculate compound interest in months?
The monthly compound interest formula is used to find the compound interest per month. The formula of monthly compound interest is: CI = P(1 + (r/12) )12t – P where, P is the principal amount, r is the interest rate in decimal form, and t is the time.
How do you calculate compound interest?
Compound interest is calculated by multiplying the initial principal amount by one plus the annual interest rate raised to the number of compound periods minus one. Interest can be compounded on any given frequency schedule, from continuous to daily to annually.
What is the compound interest on rupees 10000 at 10\% for 3 years?
Thus, The compound Interest will be Rs. 3310 .
What is the compound interest on 2500 for 2 years?
Answer: 2500 for 2 years at 4 per cent per annum , compound intrest being reckoned semi-annually.
What is the formula for interest compounded monthly?
What is monthly compounded rate?
If the interest period and compounding period are not stated, then the interest rate is understood to be annual with annual compounding. Examples: “12\% interest compounded monthly” means that the interest rate is 12\% per year (not 12\% per month), compounded monthly. Thus, the interest rate is 1\% (12\% / 12) per month.
How to calculate compound interest on Rs 1000 for two years?
Find the compound interest on Rs 1000 for two years at 4\% per annum. Amount at the end of first year =Rs1000 + Rs 40 = Rs 1040. Principal for the second year = Rs1040
What is the amount after 3 years of compound interest?
If the interest is compounded annually, then the amount A and the compound interest C.I. at the end of n years is given by: Example 3: Find the compound interest on Rs 12000 for 3 years at 10\% per annum compounded annually. Solution: P =Rs 12000, R =10\% per annum and n=3. Therefore, amount (A) after 3 years
What is the rate of interest on Rs 8000?
Example 2: Find the compound interest on Rs 8000 for 3/2 years at 10\% per annum, interest is payable half-yearly. Solution: Rate of interest = 10\% per annum = 5\% per half –year. Time = 3/2 years = 3 half-years Original principal = Rs 8000. .
How many years will a amount double itself at 10\% compounded quarterly?
In how many years will a amount double itself at 10\% interest rate compounded quarterly? Ans. t = (log (A/P) / log (1+r/n)) / n = log (2) / log (1 + 0.1 / 4) / 4 = 7.02 years 3. If interest is compounded daily, find the rate at which an amount doubles itself in 5 years?