A sum of money was lent for 2 years at 20% compound annually. If the interest is payable half- yearly instead of yearly, then the intrest is ₹964 more. Find the sum.
Answers
Answered by
0
Answer:
Rs.20,000
Step-by-step explanation:
Let the sum of money lent out be Rs. x
In the Ist case:
A
1
=Rsx(1+
100
20
)
2
=Rs
25
36x
∴A=P(1+
100
r
)
n
In the 2nd case:
A
2
=Rsx(1+
2×100
20
)
2×2
=Rs.
10000
14641x
∵A=P(1+
2×100
r
)
n×2
According to the question-
⇒
10000
14641x
−
25
36x
=482
⇒
10000
14641x−14400x
=482
⇒241x=4820000
⇒x=20000
∴ The sum of money lent out =Rs.20,000
Similar questions