A sum of money is invested at a half-yearly compound interest rate of 5%. If the difference of
principals at the ends of 6 months and 12 months be Rs 126 then find
(i) the sum of money invested, and
(ii) the amount at the end of 1.5 years.
Answers
Answer:
) The sum of money invested = RS 4032.
(ii) The amount at the end of first year = RS 4326.12.
To find:
(i) The sum of money invested ?
(ii) The amount at the end of first year ?
Given data:
Rate of interest = 5%
Difference between the principle at the end of 6 months and 12 months = RS.126
Formula:
CI =
Solution:
Rate of interest = 5%
Since calculated half-yearly, rate of interest for 6 months = 2.5%
Difference between the principle at the end of 6 months and 12 months = RS 126
Difference between the rate of interest at the end of 6 months and 12 months is calculated as,
= 5.625 - 2.5
= 3.125
Thus 3.125 = 126
Then 100 = ?
= 4032.
Therefore,
(i) The sum of money invested = RS 4032
(ii) The amount at the end of first year,
CI =
= 4032 × 1.050625
CI = 4326.12
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Answer:
cl = 4326.12
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