Question

hariti invested a certain sum of money for 3/2 years at the rate of 15% per annum compounded six-monthly . At the end of 3/2 years she receives a compound interest of rupees 1891.50. find the sum invested by hariti.
the answer of this question is 7806.54
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Answer 1

Answer:

Given :

Hariti invested a certain sum of money for 3/2 years at the rate of 15% per annum compounded six-monthly. At the end of 3/2 years she receives a compound interest of ₹1891.50 .

To Find :

Find the sum invested by hariti.

Solution:

Let x be the sum invested by Hariti

Time =\frac{3}{2} years23years

Rate of interest = 15% = 0.15

Compound interest = Rs.1891.50

Amount = Principal+Interest = x+1891.50

No. of compounds per year = n = 2

Formula:

A=P(1+\frac{r}{n})^{nt}A=P(1+nr)nt

x+1891.50=x(1+\frac{0.15}{2})^{2 \times \frac{3}{2}}x+1891.50=x(1+20.15)2×23

x+1891.50=1.242296875 x

1891.50=1.242296875 x-x

1891.50=0.242296875x

\frac{1891.50}{0.242296875}=x0.2422968751891.50=x

7806.53=x

Hence the sum invested by Hariti is Rs.7806.53

Answer 2

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