Question

If Rs. 200,000 is to grow to Rs. 649,464 in ten years’ period, at what annual interest rate must it be invested. What is
the effective rate of interest is compounded semi-annually?​

Answer 1

Answer:

22.47%

Step-by-step explanation:

Principle amount = 200000

Intrest grown = 649464 - 200000

                      = 449464

Now using the formula, I = (P*T*R)/100

         R = I*100 / (P *T )

            = 44946400/(200000*10)

           = 22.47%

Answer 2

Answer:

22.4732

Step-by-step explanation:

Amount=Rs.649,464

Principal=Rs.200,000

Time=10years

Interest=649,464-200,000=449,464

Rate=?

Therefore,Rate=100×I/P×T

100×449,464/200,000×10

449,46400/2,000,000

22.4732%