Maths a sum of money amounts to rs. 1500 in 5 yrs. at 10% p.a. simple interest. find the sum?

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1500x5x10
-----------------=15x5x10=750
100

Posted on May 25, 2008

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Posted on Jan 02, 2017

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I have a starting amount of \$2,125. I invest some of it in a bank that pays 4% a year and some in another back that pays 5% a year. After one year I have earned \$100. How much money did I invest in ea

There are 2 values for interest, say R and r, and R = 0.05, r = 0.04

There are 2 values for the amount earned, from the 2 banks, say I and i, and we know I + i = 100

There are 2 values for principal invested, say P and p, and we know P + p = 2125

There is only one value for period, say t = 1

So then I = P * 0.05 * 1 and
i = p * 0.04 * 1 and
I + i = 100 and
P + p = 2125

then

0.05P + 0.04p = 100
P + p = 2125
P = 2125 - p
0.05 ( 2125 - p) +0.04p = 100
106.25 - 0.05p + 0.04p = 100
106.25 - 0.01p = 100
0.01p = 6.25
p = 625
so
P = 2125 - 625 = 1500

so the amounts were \$1500 and \$625

Oct 20, 2014 | Mathsoft StudyWorks! Middle School Deluxe...

Math word problem solver

\$15,000 at 3% and \$6,000 at 7%.

If this is homework, be sure to show your work.

Sep 06, 2014 | Office Equipment & Supplies

Simple interest

Using fixed simple interest:
so after 3 years you have \$1,500 + \$225 = \$1,725.00

Compound interest:
If you use/want compound interest you gain 5% of the new amount every year. So start with \$1,500
Year 1: \$1,500 + \$75 = \$1,575
Year 2: \$1,575 + \$78.75 = \$1,653.75
Year 3: \$1,653.75 + \$82.6875 = \$1736.4375
So final sum is \$1736.4375.
However banks usually round down so \$1736.43

Jan 28, 2014 | Mathsoft Computers & Internet

. A sum of Rs.1400 is to be used to give seven

• Let, the maximum amount that is to be given is "x". Then, next student will receive an amount of "x-40", the next one "x-80", the next one "x-120", the next one "x-160", the next one "x-200" and the least amount will be "x-240"...... as this amount was to be distributed among 7 students.
• So according to the given condition, the money balance gives........ x+(x-40)+(x-80)+(x-120)+(x-160)+(x-200)+(x-240) = 1400
=> 7x - 840 = 1400
=> 7x = 2240
=> x = 320

Therefore, the distribution of the money will be 320, 280, 240, 200, 160, 120 and 80.

Feb 08, 2011 | Samsung Computers & Internet

If a certain sum of money at SI doubles itself in 5 yrs then what is the rate?

Guessing your non-phone question that SI is simple interest, the answer is just under 20%. Compounding makes the difference as it would double in 4 years at 20%. My trusty HP is in the van, so I'm guessing about 16%.

Carl

Feb 01, 2011 | Lands Phones

I want the excel compound interest formula

=10000*(1+0.96)^12
=10000*(1+0.10)^18
=10000*(1+0.10)^24

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Present value of a loan

The present value of any future monthly (?) stream of payments stretching some 24 years into the future takes into account the time value of money and depends on the interest rate assumed to apply for each month throughout those 24 years.

There are formulae to calc this for an equal monthly payment and a constant interest rate, over the term but for a variable interest rate you need a spreadsheet.

In the simple case of zero interest assumed throughout the term, present value = current principal balance, but for any positive interest rate, the total present value of the future payment stream is less than the current principal balance.

Oct 06, 2008 | Texas Instruments TI-30XA Calculator

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