A certain sum of money is put at compound interest,compounded half yearly.if the interest for two successive half years are ₹650and ₹760.50;find the rate of interest
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Given :-
- Amount compound half yearly .
- Interest on 2 successive years is Rs 650 and Rs 750.50
To Find :-
- Rate of interest .
Solution :-
Firstly lets find difference between the C.I of two successive years
It means that Rs 110.50 is the interest of half year on Rs 650 .
Time = 6 months =
Using this formula
So the rate of interest is 34 %
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Answer:
Rs. 2,000
Explanation:
x × (100+20)% × (100+40)% × (100+50)% = 5040
x × (6/5) × (7/5) × (3/2) = 5040
x = 5040 × 5/6 × 5/7 × 2/3 = 2000
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