Question

1
3. A sum of money was lent out at a compound interest for 2 years at 20%
p.a. If the interest is calculated half yearly it would fetch Rs 482 more as
interest. Calculate.
b. Compound interest if the interest is calculated yearly​

Answer 1

Step-by-step explanation:

Let the sum be x,

x(1+10100)4 - x (1+20100)2 = 482

=> x(1110)4 - x (65)2 = 482

=> x (1.4641 - 1.44) = 482

=> 0.0241x = 482

=> x = 4820.0241 = Rs.20000

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