Question

A company pays 68921 after 3/2years ,interest compounded half yearly on an investment of Rs 64000 . Calculate the rate at which the company pays interest.

Answer 1

Answer:a=

Step-by-step explanation:

A=p(1+r/100)^n

68921=64000(1+r/100)^3

68921/64000=(1+r/100)^3

41/40=1+r/100

r=100/40=2.5% half yearly

r=5%per annum

Answer 2

Answer:

rate is 5%

Step-by-step explanation:

no of years = 1 1/2

= 3/2

Principal. = 64000

Amount. = 68921

A = P × ( 1+ r/200 ) 2n

68921. = 64000× ( 1+ r / 200 ) 2×3/2

68921/64000 = ( 1+ r/200 ) ³

( 41/42 )³ = ( 1+ r/200)³

41/40-1 = r/200

200/40 = r

5% = r

rate of interest for annually is 5%

Hope it helps