Question

At what rate of compound interest will a sum of Rs.8000 will amount to Rs.9261 after 3 years of

compound interest?​

Answer 1

Answer:

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Step-by-step explanation:

Interest is compounded half yearly.

∴ Rate of interest = 5%

Time = {n}/{2}\ years

\because A = P(1 + {R}/{100})^{T}

=> 9261 = 8000 (1 + {5}/{100})^{n}

=> {9261}/{8000} = {21}/{20})^{n}

=> {21}/{20})^{3} = {21}/{20})^{n}

=> n = 3\ half\ years

= {3}/{2}\ years =1{1}/{2}\ years

Hence option [A] is correct answer.