If in a certain number of years,₹ 3000 amount | vedclass

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

Question

(B) Let $r \%$ be the rate of interest and $n$ be the number of years.The formula for the amount in compound interest is $A = P(1 + \frac{r}{100})^n$.

Vedclass · Accepted Answer

$3600$

Vedclass · Answer

(B) Let $r \%$ be the rate of interest and $n$ be the number of years.The formula for the amount in compound interest is $A = P(1 + \frac{r}{100})^n$.Given that $P = 3000$ and $A = 4320$ after $n$ years:$4320 = 3000(1 + \frac{r}{100})^n$Dividing both sides by $3000$:$(1 + \frac{r}{100})^n = \frac{4320}{3000} = 1.44$We need to find the amount after half the time,i.e.,$n/2$ years:$A' = 3000(1 + \frac{r}{100})^{n/2}$Since $(1 + \frac{r}{100})^n = 1.44$,taking the square root of both sides gives:$(1 + \frac{r}{100})^{n/2} = \sqrt{1.44} = 1.2$Substituting this value into the expression for $A'$:$A' = 3000 	imes 1.2 = 3600$Thus,the amount will be ₹ $3600$.

If in a certain number of years,₹ $3000$ amounts to ₹ $4320$ at compound interest,in half that time ₹ $3000$ will amount to (in ₹):

Similar Questions

Sam invested ₹ $15000$ at $10 \%$ per annum for one year. If the interest is compounded half-yearly,then the amount (in ₹) received by Sam at the end of the year will be:

What is $C.I.$ (in $Rs.$) on $Rs. 7500$ for $4$ years if the rate of interest is $10 \%$ p.a. for the first $2$ years and $20 \%$ p.a. for the next $2$ years?

What is the difference between $C.I.$ and $S.I.$ on $Rs. 12000$ at $5 \%$ per annum for $2$ years?

The least number of complete years in which a sum of money put out at $20 \%$ compound interest will be more than doubled is

What sum of money (in $Rs.$) at compound interest will amount to $Rs. 5305.53$ in $3$ years,if the rate of interest is $1 \%$ for the first year,$2 \%$ for the second year,and $3 \%$ for the third year?

Vedclass Test Series

Exam Paper Generator

Online Exam Module