Question

A sum of money is put on CI for 2 years at 20%. It would fetch Rs 482 more if the interest is payable half yearly than if it were payable yearly. Find the sum.

Answer 1

Answer:

Let sum=Rs.x

C.I. when compounded half yearly = [x(1+10/100)^4−x] = 4641/10000

 

C.I. when compounded annually = [x(20/100)^2−x] = 11/25

4641/10000x − 11/25x=482

=> x=20000