Question

hari purchased relief bonds for 1000 rupees a sum which will fetch him 2000 rupees after 5 years find the rate of interest if the interest is compounded half yearly (given that 10 pie 2 = 1.072)
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Answer 1

Answer:

The rate of interest is 14.86%

Step-by-step explanation:

Principal = Rs.1000

Amount = Rs.2000

Time = 5 years

Let the rate of interest be r

Formula :

A = Amount

P = Principal

r = rate of interest in decimals

t = time

So,

So, 14.86% = r

Hence The rate of interest is 14.86%

#Learn more:

Find the compound interest for 10,000 and rate 10%.find the compound interest for 2 years

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