Question

a sum of money was lentfor 2 years at 20 percent compounded anually.if the interest is payable half yearly instead of yearly then the interest is 482 more. find the sum​

Answer 1

Answer:

Step-by-step explanation:

a sum of money was lentfor 2 years at 20 percent compounded anually.if the interest is payable half yearly instead of yearly then the interest is 482 more. find the s                                                                                                                      Interest @20% per annum=10% half yearly

If sum=x,

then Compound Interest=x[1+(r/100)]^n -x ,

where r=rate ,n=year

So x[1+(10/100)]^4 -x = x[1+(20/100)]^2 -x + 482

x(1+0.1)^4 -x= x(1.2)^2 -x +482

1.4641x=1.44x+482

x=20000

Hence the sum of the money is Rs 20,000.