Question

A sum rupees 25000 invested at 8% per annum compounded semi annually amount to 28121.60.Find the time period.

Answer 1

I hope this is helpful for you

Answer 2

Answer: The time period must be 1.5 years.

Step-by-step explanation:

Since we have given that

Principal amount (P) = 25000

Rate of interest = 8% compounded semi-annually

Amount = 28121.60

As we know the formula for "Compound Interest for semi-annually":

$A=P(1+\frac{r}{200})^{2n}\\\\28121.60=25000(1+\frac{8}{200})^{2n}\\\\\frac{28121.60}{25000}=(1+\frac{1}{25})^{2n}\\\\\frac{28121.60}{25000}=\frac{26}{25}^{2n}\\\\1.124=\frac{676}{625}^n\\\\n=1.5\ approximately$

Hence, the time period must be 1.5 years.