a sum of money invested in a chit fund yields 600 simple interest at end of 1 year at 20% rate if the sum is lent out for 3/2 year at 20% compounded half yearly what is the benefit in interest obtained
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13
Answer:
p=100xI/NR=100x600/1x20 =3ooo
If Rs 3000 lent at Cl, A =
3000 (I +20/200) 3/2
=3993
Cl=3993-3ooo = Rs993
=
3ooox 110/110/100x1l0/100
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6
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