A scooter was bought at Rs 42,000. Its value depreciated at the rate of 8% per annum.
Find its value after one year.
Here, Principal (P) = Rs. 42,000, Rate of Interest (R) = 8%, Time, n = 1 years
Amount (A) =
= Rs. 38,640
Hence, the value of scooter after one year is Rs. 38,640.
Calculate the amount and compound interest on
(a) Rs 10,800 for 3 years at per annum compounded annually.
(b) Rs 18,000 for years at 10% per annum compounded annually.
(c) Rs 62,500 for years at 8% per annum compounded half yearly.
(d) Rs 8,000 for 1 year at 9% per annum compounded half yearly.
(You could use the year by year calculation using SI formula to verify).
(e) Rs 10,000 for 1 year at 8% per annum compounded half yearly.