Unit-14 Commercial Mathematics

In this unit you will learn about profit and loss, various taxes, shares and debentures.

Surbhi deposited three different sums in three different schemes, which are given below. Find the compound interest in each of the following.
i) P = Rs.10000, n=4, r = 6%
ii) P = Rs.5000, n=3, r=10%
iii) P = Rs.4000, n=2, r=12%

Answer

i) Amount = 10000(1 + 0.06)4 = 12624.77

Interest = Amount − Principal = 2624.77

ii) A = 5000(1 + 0.10)3 = 6655

I = A − P = 1655

iii) A = 4000(1 + 0.12)2 = 5016.80

I = A − P = 1016.80