In how many years a sum of money trebles at 5% p.a compound interest payable half yearly basis
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It will Take 44.5 Years to amount get Tripled at 5 % pa compounded half Yearly
Step-by-step explanation:
Let say Principle = P
it becomes triple => Amount = 3P
Rate of interest = 5 % per Annun
=> 5/2 = 2.5 % half Yearly Basis
Late say in n Years it become triple
then 2n half Years
Now Applying CI formula
3P = P ( 1 + 2.5/100)²ⁿ
=> 3 = ( 1.025)ⁿ
Taking log both sides
=> log 3 = n log 1.025
=> n = 44.5
It will Take 44.5 Years to amount get Tripled at 5 % pa compounded half Yearly
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