a sum of money amount to 8820 in 1 year and to 9261 in 1 1/2 when interest is compounded semi annually. find the sum and the rate of interest per annum
Answers
Answered by
1
Answer:
= r% Then
P(1+
100
r
)
2
=4840) and P(1+
100
r
)
3
=5324
⇒
4840
5324
=
(1+r/100)
2
(1+r/100)
3
⇒1+
100
r
=
1210
1331
⇒
100
r
=
1210
1331
−1=
1210
121
=
10
1
⇒r=
10
1
×100=10%p.a.
Answered by
0
8000 is the sum
Hope it helps you
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