Roshan invests rs 240000 for 2 years at 10% per annum compounded annually. If their income tax is 20% is deducted at the end of each year on the interest accrued, find the amount he will receive at the end of two years?

### Asked by aneesh382005 | 16th Jul, 2019, 02:23: PM

Expert Answer:

### For the first year :
P = Rs. 240000, n = 1 and r = 10% p.a.
A = P(1 + r/100)
A = 240000 (1 + 10/100)
A = Rs. 264000
Interest = 264000 - 240000 = Rs. 24000
Tax = 20/100 of 24000 = Rs. 4800
For second year :
P = 264000 - 4800 = Rs. 259200, n = 1 year, r = 10% p.a.
A = 259200(1 + 10/100)
A = Rs. 25920
Tax = 20% of 25920 = Rs. 5184
He received 285120 - 5184 = Rs. 279936 after two years.

### Answered by Sneha shidid | 18th Jul, 2019, 10:05: AM

## Concept Videos

- mesh invests $12.800 for three years at the rate of 10% per annum compound interest. Find: (1)The sum due to Ramesh at the end of the first year (n) The interest he earns for the second year. The total amount due to him at the end of the third
- find the sum , invested at 10persent compounded annually , on which the interest for thrid year exceeds the interest of the first year by ruppes 252
- Find the amount and compound interest on rupees 12000 for 5 by 2 years at 5 % per annum.
- find the amount and compound interest due to 40000 borrowed for 5 by 2 years for 15 percent per annum
- find the compound interest on rs 4000 accured in 3 years,whenthe rate interest is 8 % for the first year and 10%per year fotr the secobd and the third year year
- Ci
- ashok borrowed rs 12000 at some rate of interest compound interest.After a year he paid back rs 4000. If compund interest for the second year is rs 920 find the rate of interest
- the simple interest on a sum of money for 2 years at 12% per annum is 1380 rupees find the sum of money money
- Assam of money is invested at 10% per annum compounded half yearly if the difference of amount and time of 6 months and 12 months is rupees 189 find the sum of money invested

### Kindly Sign up for a personalised experience

- Ask Study Doubts
- Sample Papers
- Past Year Papers
- Textbook Solutions

#### Sign Up

#### Verify mobile number

Enter the OTP sent to your number

Change