A certain sum of money is put at compound interest, compounded half-yearly . if the interrest for successive half-yearly are RS 650 and RS 760.50;find the rate of interest
Answers
Answered by
1
Answer:
Difference between the C.I of two successive half -years=760.50−650=110.50
Time =6 months=126=21years
Rate of interest=C.Iofprecedingyear×timeDifferencebetweentheC.Ioftwosuccessiveyear×100
∴Rate of intereast=650×1110.50×100×2=34%
Similar questions