Tips

How do you calculate compound interest on 160000?

by Author

How do you calculate compound interest on 160000?

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

What is the formula for simple interest?

Simple Interest Formulas and Calculations: This calculator for simple interest-only finds I, the simple interest where P is the Principal amount of money to be invested at an Interest Rate R\% per period for t Number of Time Periods. Where r is in decimal form; r=R/100. r and t are in the same units of time. Calculate Interest, solve for I I = Prt.

READ:   Can I prepare for gate after BTech?

How to solve for any variable in compound interest formula?

You can solve for any variable by rearranging the compound interest formula as illustrated in the following examples:- 1. What is the compound interest of 75000 at 7.9\% per annum compounded semi-annually in 3 years? Ans. A = P (1+r/n) nt = 75000 (1 + (7.9 / 100) / 2) 6 = 94625.51 2.

How do you calculate interest rate from PRT?

I = Prt. Where: P = Principal Amount. I = Interest Amount. r = Rate of Interest per year in decimal; r = R/100. R = Rate of Interest per year as a percent; R = r * 100. t = Time Periods involved. Notes: Base formula, written as I = Prt or I = P × r × t where rate r and time t should be in the same time units such as months or years.

What is the rate of interest on 160000 rupees?

(vii) Given, P = Rs 160000, rate = 10\% = 10/2\% = 5\% (half yearly), time = 2years = 2×2 = 4 quarters 2. Find the amount of Rs. 2400 after 3 years, when the interest is compounded annually at the rate of 20\% per annum.

READ:   How do you relax muscle tension?

How do you calculate compound interest on loan Surabhi borrowed?

Surabhi borrowed a sum of Rs. 12000 from a finance company to purchase a refrigerator. If the rate of interest is 5\% per annum compounded annually, calculate the compound interest that Surabhi has to pay to the company after 3 years. ∴ Compound Interest = A – P = Rs 13891.5 – Rs 12000 = Rs 1891.5

What is the rate of interest that Rahman lent to Rasheed?

3. Rahman lent Rs. 16000 to Rasheed at the rate of 12 ½ \% per annum compound interest. Find the amount payable by Rasheed to Rahman after 3 years. Rate (r) = 12 ½ \% per annum = 12.5\%