Question

58. In what time Rs. 8,000 will
amount to Rs. 9,261 at 10% per
annum compound interest,
when the interest is compound-
ed half yearly?​

Answer 1

Answer:

Step-by-step explanation:

7×6

Answer 2

Answer:

1.5 Years

Step-by-step explanation:

Interest is compounded half yearly.

∴ Rate of interest = 5%

P = 8000      r = 5% = 0.05    n = unumber of years

9261 = 8000 (1 + 0.05)^n  

9261 / 8000  =  1.05 ^n  

take logarithms

log 9261 /8000  =  n  log 1.05

n  =  (1/ log 1.05)  log  1.157  years  = 2.99  = 3 years nearly