Question

at what rate of interest p.a compounded half yearly will rs 50000000 amount to rs 60775312.50 after 2 years
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Answer 1

Answer:

Rate (r)

Where: r = n[(A/P)^1/nt - 1]

Total A = P+I = 60,775,312.50

Principal (P) = 50,000,000.00

Compounding Semi-Annually (2/Yr)

n=2

Time (t in years) = 2

Put the values in the above formula

We get

r = 10% per year