Find the rate of interest at which 64000 will amount 68921 in 3/2years if the interest is compounded half yearly
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when compound half yearly
t=3/2*2
t=3years
CI=p(1+r/100)3
68921=6400(1+r/100)3
40 is the cube of 64000
41 is the cube of 68921
68921/64000=(1+r/100)
41/40=1+r/100
41/40-1=r/100
41-40/40=r/100
1/40=r/100
100/40=r
2.5=r
t=3/2*2
t=3years
CI=p(1+r/100)3
68921=6400(1+r/100)3
40 is the cube of 64000
41 is the cube of 68921
68921/64000=(1+r/100)
41/40=1+r/100
41/40-1=r/100
41-40/40=r/100
1/40=r/100
100/40=r
2.5=r
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