Question

find the present per annum if rs.2000 to rs2662 in 1.5 interest being compound half yearly.​

Answer 1

Given details are, Principal

= Rs 2000 Amount =

Rs 2662 Time

= 1 ½ years = 3/2 × 2

= 3 half years Let rate be =

R% per annum = R/2 % half yearly By using the formula,

A = P (1 + R/100)n 2662 = 2000 (1 + R/2×100)3 (1 + R/200)3

= 1331/1000 (1 + R/100)3

= (11/10)3 By cancelling the powers on both sides, (1 + R/200)

= (11/10) R/200

= 11/10 – 1 = (11-10)/10 = 1/10 R = 200/10 = 20%

∴ Required Rate is 20% per annum

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