Question

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

Answer 1

Answer:

The required Rate of Interest = 34%

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

$Interest = \frac{650\times 0.5\times rate}{100}\\\\\implies 110.50=\frac{325\times rate}{100}\\\\\implies 11050=325\times rate\\\\\implies rate=\frac{11050}{325}\\\\\implies rate = 34\%$

Hence, The required Rate of Interest = 34%

Answer 2

Answer:

34%

Step-by-step explanation:

Difference = 760.50 - 650

                 = rupees 110.50  

P = rupees 650  ,  T = 1/2 year  , I = rupees 110.50

R = I*100/P*T

   = 110.50*100/650*1

   = 34%

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