What will Rs. 5000 amount to in 10 years, compounded annually at 10 % (2024)

FAQs

What will rupees 5000 amount to in 10 years compounded annually at 10% per annum? ›

12970. Step by step video, text & image solution for What will Rs. 5000 amount to in 10 years, compounded annually at 10 % per annume ? ["Given "(1.1)^(10)=2.594] by Maths experts to help you in doubts & scoring excellent marks in Class 11 exams.

Answer and Explanation:

Invested amount or present value (PV) = $5,000. The future value of the investment is $12,968.71. It is the accumulated value of investing $5,000 for 10 years at a rate of 10% compound interest.

So, CI = Rs 6050 - Rs 5000 = Rs. 1050.

= Compound Interest. A3 = 5000 × 11/10 × 11/10 × 11/10 = 6,655. ⇒ 6655 - 5000 = Rs 1655.

∴ In 3 years Rs. 5,000 amounts to Rs. 6,655 @ 10% p.a. compound interest. Let's discuss the concepts related to Interest and Compound Interest.

∴ Compound Interest =Rs12100−Rs10000=Rs2100.

= 7500rs. Simple interest of 5000rs at 10% for 5 years is 2500rs and the amount is 7500rs.

Expert-Verified Answer

Therefore, the compound interest on 5000 at 10% per annum compounded half-yearly is 512.50.

= A - P = Rs. 5832 - 5000= Rs. 832 (c)

Formula= A = P (1 + R/N) ^ nt

P is the principal amount. r is the annual interest rate (decimal) n is the number of times interest is compounded per year (12 for monthly) t is the time in years.

What is the amount of Rs 10000 for 3 years at 10% per annum compound interest? ›

Period (n) = 3 years∴ Amount = P (1+R100)n=Rs. 10000 (1+10100)3=Rs. 10000×1110×1110×1110=Rs. 13310C.I.

+r/100)^t = 10000. (1+10/100)^5= 16105.10. Compound interest = A - P = ₹(16105.10 - 10000) =₹ 6105.10. Answer.

Period (n) = 3 years∴ Amount = P (1+R100)n=Rs. 10000 (1+10100)3=Rs. 10000×1110×1110×1110=Rs. 13310C.I.

+r/100)^t = 10000. (1+10/100)^5= 16105.10. Compound interest = A - P = ₹(16105.10 - 10000) =₹ 6105.10. Answer.

So, the amount will become Rs. 4000 in another 10 years. ∴ The answer will be 10 years.

t = the time period in years (which we want to find)We need to solve for 't':66,550 = 50,000(1 + 0.10/1)^(1*t)Now, we can solve for 't':(1 + 0.10)^t = 66,550 / 50,0001.3310^t = 1.331To solve for 't', take the natural logarithm (ln) of both sides:ln(1.331^t) = ln(1.331)t * ln(1.331) = ln(1.331)Now, divide by ln(1.331) ...