EssayNest

# Calculate the value 5 years hence of a deposit of Rs. 1,000 made today if the interest rate is (a)…

Get your original paper written from scratch starting at just \$10 per page with a plagiarism report and free revisions included!

4.8

SiteJabber

4.9

ResellerRatings

4.9

Reviews.io

Hire A Writer

Calculate the value 5 years hence of a deposit of Rs. 1,000 made today if the interest rate is (a) 8 percent, (b) 10 percent, (c) 12 percent, and (d) 15 percent.

If you deposit Rs. 5,000 today at 12 percent rate of interest in how many years (roughly) will this amount grow to Rs. 1,60,000 ? Work this problem using the rule of 72–do not use tables.

A finance company offers to give Rs. 8,000 after 12 years in return for Rs. 1,000 deposited today. Using the rule of 69, figure out the approximate interest offered.

You can save Rs. 2,000 a year for 5 years, and Rs. 3,000 a year for 10 years thereafter. What will these savings cumulate to at the end of 15 years, if the rate of interest is 10 percent?

Mr. Vinay plans to send his son for higher studies abroad after 10 years. He expects the cost of these studies to be Rs. 100,000. How much should he save annually to have a sum of Rs. 100,000 at the end of 10 years, if the interest rate is 12 percent ?