Question

find the period and rate for each.
1. a sum taken for 1 1/2(one and half) years at 8% per annum is compounded half yearly.
2. a sum taken for 2 years at 4% per annum compoundrd half yearly.

Answer 1

let us assume the p as 1000
n=11
a=p(1+r/100)n
1000 x (108/100)11
=(1080)11
=1080 x 1080................multiplied 11 times