Question

Hariti invested a certain sum of money for 1 1/2 years at the rate of 15 % per annum compounded six monthly. At the end of 1 1/2 years she receives a compound interest of rupees 1891.50. find the sum invested by hariti.

Answer 1

The sum invsted by hariti = RS. 1244

Step-by-step explanation:

The formula for annual compound interest, including principal sum P , rate of interest R, number of years N and amount A is given by,

A=p{1+r/100}^2

Here N = 1 1/2 years compounded six monthly.

So we can write N = 3 ( 3 six months in 1 1/2 years)

R = 15%

P = ?

A = 1891.50

To find invested amount

By the compound interest formula

a=p(1+r/100)^3

1819.50 = p(1+15/100)^3

1819.50 = p(115/100)^3

1819.50= p(1+1.15)^3

p= 1244.40 =RS = 1244

Therefore, the sum invsted by hariti = RS. 1244

hope it help U ✔

@ansika .

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Answer 2

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