Question

If the amount on the principal of ₹ 6000 is written as 6000 (1 + 5/ 100)³and compound interest payable half -yearly , then rate of interest per annum is ___________ and time in years is _______________​

Answer 1

Answer:

Rate of interest per annum is 10% AND time in years is 3/2 years

Step-by-step explanation:

As amount in case of interest payable half yearly comes out to be P(1+(R/2)/100)^2n

Where P is principal, R is rate per annum and n is number of years.

Now, here as per the given details in the question:

R/2 =5, so R = 10%

Also, 2n =3 so n=3/2 years.