Question

In how much time will ₹5000 amount to ₹5955.08 at 12% p.a., if interest is compounded semi annually?
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Answer 1

Answer:

Use This Method

Step-by-step explanation:

Given Rate of interest is r = 8% = 0.08

Principal Amount is A = 5, 000

Time is t years

Interest is compounded yearly twice

→ n = 2

r Amount = P (1+)nt = 5000 x (1+ n

0.08 2t

2

= 5, 408

5408

(1.0816)* : 5000 t = 1