A sum of money amount to RS 8820 in 1 year and to RS 9261 in 3by2 years when interest in compounded semi annually find the sum and rate of interest per annum
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Answer:let the principal be P
The principal amounts to 8820 in 1 year
Therefore, A=8820= P(1+R/100)'1. ------eq1
And the principal amounts to 9261 in 3/2 years.
Therefore, A=9261=P(1+R/100)'3/2 ----------eq2
Dividing eq2 by eq1 , we get
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sum is 8400
Step-by-step explanation:
rate of interest is 5%
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