Question

A sum off 20,000 is invested for 15 months at the interest of 10% per annum compounded half yearly. What is the percentage gain, correct to one decimal place, at the end of 15 months?

Answer 1

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.

Answer 2

Answer:

13.0% is the answer hope it will help you