(a) Find the compound interest on Rs. 31250 at 8% per annum for \[2\frac{3}{4}\] years. |
(b) Mohit bought a CD for Rs. 750 and sold it for Rs. 875. Show that his gain percent is \[16\frac{2}{3}\]%. |
Answer:
(a) Since, P = Rs. 31250, n = \[2\frac{3}{4}\]years, R = 8% p.a. Then, \[A=31250{{\left( 1+\frac{8}{100} \right)}^{2}}\times \left( 1+\frac{\frac{3}{4}\times 8}{100} \right)\] \\[=31250\times {{\left( \frac{27}{25} \right)}^{2}}\times \left( \frac{53}{50} \right)\] \[=31250\times \frac{27}{25}\times \frac{27}{25}\times \frac{53}{50}=Rs.38637\] Hence, C.I. \[=\text{ }38637-31250\text{ }=\]Rs. 7387 (b) Since, C.P. = Rs. 750 and S.P = Rs. 875 C.P. < S.P. Gain = Rs. (875 - 750) = Rs. 125 Then, Gain% \[=\left( \frac{Gain}{C.P.}\times 100 \right)\] \[=\frac{125}{750}\times 100\] \[=\frac{50}{3}%=16\frac{2}{3}%\]
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