A sum of money, deposited at some rate p.c.p. | vedclass

Name: PDF Generator App | JEE NEET Paper Generator | Vedclass
Brand: Vedclass
Rating: 5 (35 reviews)

Question

(a) Let the amount be $A,$ rate of interest be rand the required time be $t$ years. Now, according to the question,

$2 A=A\left(1+\frac{r}{100}\rig

Vedclass · Accepted Answer

$16$

Vedclass · Answer

(a) Let the amount be $A,$ rate of interest be rand the required time be $t$ years. Now, according to the question,

$2 A=A\left(1+\frac{r}{100}ight)^{4}$

$\Rightarrow 2=\left(1+\frac{r}{100}ight)^{4}$

Again, $16 A=A\left(1+\frac{r}{100}ight)^{t}$

$\Rightarrow 16=\left(1+\frac{r}{100}ight)^{t}$

$\Rightarrow(2)^{4}=\left(1+\frac{r}{100}ight)^{t}$

Now, putting the value of 2 from Eqn. (1) in Eqn. (2), we get

$\left(1+\frac{r}{100}ight)^{4 	imes 4}=\left(1+\frac{r}{100}ight)^{t}$

$\Rightarrow \quad t =(4 	imes 4)=16$ years

A sum of money, deposited at some rate $p.c.p.a.$ of compound interest, doubles itself in $4$ years. In how many years will it become $16$ times of itself at the same rate?

Similar Questions

A man borrows ₹ $4000$ from a bank at $7 \frac{1}{2} \%$ compound interest. At the end of every year he pays ₹ $1500$ as part repayment of loan and interest. How much does he still owe to the bank after three such instalments (In ₹) ?

If the compound interest on a certain sum of money for $2$ years at $5 \%$ is ₹ $328,$ then the sum (In ₹) is

A man borrows $Rs. 5100$ to be paid back with compound interest at the rate of $4 \%$ pa by the end of $2$ years in two equal yearly instalments. How much (In $Rs.$) will be each instalment?

The difference between the compound interest and the simple interest accrued on an amount of ₹ $18000$ in $2$ years was ₹ $405 .$ What was the rate of interest per cent per annum?

In how many years will a sum of ₹ $800$ at $10 \%$ per annum compound interest, compounded semiannually becomes ₹ $926.10$?