Question

a certain sum of money is put at compound interest compounded half-yearly.If the interest for two successive half-years are rupees 650 and rupees 760.50;find the rate of interest.​

Answer 1

Compound interest for one half-year = Rs. 650

Compound interest for next half year = Rs. 760.50

Time = 2.5 years

So, Compound interest for second half-year = 760.50 - 650 = Rs. 110.50

Interest = 650×0.5×rate/100

= 110.50 = 325×rate/100

= 11050 = 325×rate

= rate = 11050/325

= rate = 34%

Thus, the rate of interest is 34%

Answer 2

Step-by-step explanation:

Compound interest for one half-year = Rs. 650

Compound interest for next half year = Rs. 760.50

So, Compound interest for second half-year = 760.50 - 650

= Rs. 110.50

Interest=650×0.5×rate/100

110.50=325×rate/100

rate=11050/325

rate=34%

Hence, The required Rate of Interest = 34%