Question

3) What will be the rate of interest at which a sum of Rs 16000 for lyear 6 months
become Rs 18522. if the interest compounded semi annually?​

Answer 1

Step-by-step explanation:

P=Rs.16,000

A

n

=Rs.18,522

i=10×1/2%=5%=0.05

n=?

We have A

n

=P(1+i)

n

18,522=16,000(1+0.05)

n

18,522/16,000=(1.05)

n

(1.157625)=(1.05)

n

(1.05)

3

=(1.05)

n

n=3 Therefore time period of investment is three half years i.e., 1.5 years.