Question

17. What sum will become *9724.05 in 2 years if the rate of interest is 10 % compounded half yearly ? O 31000 O 53000 O 37000 O ₹8000​

Answer 1

Answer:

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Class 11

>>Applied Mathematics

>>Basics of financial mathematics

>>Accumulation with simple and compound interest

>>What sum will become Rs 9826 in 18 month

Question

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What sum will become Rs 9826 in 18 months if the rate of interest is 2

2

1

% per annum and the interest is compounded half-yearly?

Medium

Solution

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Verified by Toppr

Correct option is A)

r =2

2

1

% =

2

5

%

n =18 months =

2

3

years

When the interest is compounded half

yearly,

A=P(1+

2×100

r

)

n×2

=>9826=P

⎝

⎜

⎜

⎛

1+

2×100

2

5

⎠

⎟

⎟

⎞

2

3

×2

=>9826=P(

80

81

)

3

=>P=Rs 9466.54