Question

at what rate should ramu invest RS 10,000to get RS 10,500at the end of 11/2 years compound half yearly​

Answer 1

Step-by-step explanation:

By using the formula,

A = P (1 + R/100) n

Let us solve

(i) Given, P = Rs 3000, rate = 5%, time = 2years

A = P (1 + R/100) n

= 3000 (1 + 5/100)2

= 3000 (105/100)2

= Rs 3307.5

Compound interest (CI) = A-P = Rs 3307.5 – 3000 = Rs 307.5