Question

A sum of money is invested at 20% compound interest (compounded annually). It would fetch Rs. 723 more if interest is compounded half-yearly. The sum

A) Rs.15,000 B) Rs.30,000 C) Rs.20,000 D) Rs.7,500

Answer 1

Let Principal = 400

For 1 year at 20 % rate

The interest is = 400×20100=80

If compounded half yearly then,

r=202=10

T = 2 (6 month)

(84−80)→723

4→723

1→7234

400=7234×400

=72300(sum)

Answer 2

Answer:

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