Question

find the rate if rs 2000 amount to rs 2315 in 1/2 year

Answer 1

we know that, A = P(1 + r/100)^n -------------(i)

here, A = 2315.25

P = 2000

n = 2n = 2*1 = 2 (compounded half yearly)

r = r/2 (compounded half yearly)

Now from (i),

2315.25 = 2000(1 + r/200)^2

i.e, 1 + r/200 = ✓(2315.25/2000) = 1.075

i.e, r/200 = 0.075

i.e, r = 0.075*200 = 15%

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