Question

In/how many years will a sum of 6400 compond semi annually at 5% p.A amount to 6560

Answer 1

Principal = 6400 Rs

and, Rate Percent = 5 %

and it compounded Semi annually

Therefore,  Interest =  (Principal x Time x Rate ) / 100

Therefore ,  Interest = 6400 x 1 x 5 / 100 x 2

So, Interest = 32 x 5

Therefore Interest = 160 Rs

Therefore ,  Amount = Principal + Interest

So , Amount = 6400 + 160

Therefore Amount = 6560 Rs.

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Thanks

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Aditya Suryawanshi