Question

A sum of Rs 10,000 is invested for 17 months at 8% per annum compounded half yearly . What is the percentage gain at the end of 17 month.

Answer 1

Answer:

Step-by-step explanation:

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Answer 2

Answer:

9.96 % gain at the end of 17th month.

Step-by-step explanation:

Given,

Principal Amount , P = Rs. 10000

Rate, R = 8%

Time, T = 17 month = 1 yr  5 month

Compounded half yearly,

So, number of time compounded half yearly = 2

Rate become = 4%

According to the question,

$A=P(1+\frac{R}{100])^n$

$A=10000(1+\frac{4}{100])^2$

A = Rs. 10816

Now for left 5 month we have

$SI=\frac{P\times R\times T}{100}$

$SI=\frac{10816\times4\times\frac{5}{12}}{100}$

SI = 180.266666667

Amount after 17 month = 10816 + 180.266666667

= 10996.2666667  =Rs. 10996.27

Percentage increasee = $\frac{10996.27-10000}{10000}\times100$

                                     =  9.96 %

Therefore, 9.96 % gain at the end of 17th month.