At what rate percent per annum ₹1600amount to ₹1852.20 in 3/2 years,interest being compounded half-yearly?
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Interest for first year = 1600×5×1/100
=80
Amount after first year =1600+80=1680
Interest for second year = 1680×5×1/100
=84
Amount after second year =1680+84=1764
Interest for third year = 1764×5×1/100
=88.2
Amount after first year =1764+88.2=1852.2
Thus, time required =3 yrs.
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=80
Amount after first year =1600+80=1680
Interest for second year = 1680×5×1/100
=84
Amount after second year =1680+84=1764
Interest for third year = 1764×5×1/100
=88.2
Amount after first year =1764+88.2=1852.2
Thus, time required =3 yrs.
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