if David deposite RS 2000 for 2.5 yrs at 15 per annum & the intrest is reckoned half yearly. what is the number of periods of transaction?
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principal =P = Rs2000
time = 2.5yr
rate of interest = 15%per annum
half yearly interest = 15/2 = 7.5%
number of times he get the interest n = 5
amount =A= p[(100+r)/100]^n
=2000[(100+7.5)/100]^5
=2000(107.5/100)^5
=2871.25
time = 2.5yr
rate of interest = 15%per annum
half yearly interest = 15/2 = 7.5%
number of times he get the interest n = 5
amount =A= p[(100+r)/100]^n
=2000[(100+7.5)/100]^5
=2000(107.5/100)^5
=2871.25
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