Question

Arvind deposited 20,000 in a fixed
deposit scheme of a company and
received 26,620 after a certain period
of time. Find the time period, if the rate
of interest is 20% per annum, interest
compounded half-yearly.​

Answer 1

Answer:

solution is attached.

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Answer 2

Step-by-step explanation:

principal 20000

Amount 26,620

c.i 620

r 20%

half yearly r = 10%

26,620 = 20000 ( 1+10/100)^2t

26620/20000 = (11/10)^2t

1331/1000 = (11/10)^2t

(11/10)^3 = (11/10)^2t

3 = 2t

t = 3/2

t = 1 1/2 years