What is the amount of interest on Rs 20000 for one year? (2024)

FAQs

What is the compound interest on Rs 20000 at 5% per annum for 2 years? ›

I=20000×2×5100=Rs. 2,000. Rs. 20,000 is lent for 2 years at 5% compound interest.

The number of years in which a of rs 20000 amount to rs 23152.50 5% annual compound interest rate is 2351.

To calculate simple interest, the formula used is (P x r x t)/100 where P, r, and t stands for principal amount, rate of interest and tenure of the deposit in years.

Hence the amount after 2 years is Rs. 21,012. Find the amount on Rs. 20,000 after 2 years if the rates of interest are 2% and 3% for successive years.

For example, if you take out a five-year loan for $20,000 and the interest rate on the loan is 5 percent, the simple interest formula would be $20,000 x .05 x 5 = $5,000 in interest.

A = P(1+r11000)(1+r2100)=20000×(1+10100)×(1+8100) = Rs. 23,760.

So, C.I = 26,620 - 20,000 = ₹ 6,620.

Solution :-

∴ The compound interest is Rs 4200 .

Expert-Verified Answer. Hence, compound interest on Rs. 20,000 for 4 years at 5% p.a. is Rs. 4,310.125.

The formula for calculating simple interest is: Interest = P * R * T. P = Principal amount (the beginning balance). R = Interest rate (usually per year, expressed as a decimal). T = Number of time periods (generally one-year time periods).

What is the compound interest on 20000 for 9 months? ›

Therefore, the compound interest on ₹20,000 for 9 months at the rate of 4% per annum, when interest is compounded quarterly is ₹606.02.

₹2 Interest for ₹20,000 Per Month

So, if you invest ₹20,000 as an initial investment in an FD providing ₹2 interest for two years, you can earn a monthly interest of ₹400.

Compound Interest (C.I) =23328−20000=Rs. 3328.

22050. An amount of Rs. 20000 is deposited in a bank for 2 years and paying an annual interest rate of 5%, compounded yearly.

=P+I=15000+1500= Rs. 16,500.

Hence the compound interest that needs to be paid after two year will be equal to Rs 205.

I=A−P=11,025−10,000=Rs. 1,025. Find the amount and the compound interest on Rs 10000 at 5% per annum, for 2 years compounded annually.

Principle = Rs. 5000, rate = 5%, time = 2 years. Hence, the answer is Rs. 512.50.