Question

In what time will * 10,000 amount to 14,641 at 20% per annum, when compounded half-yearly?
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Answer 1

Answer:

time = 2 years

Step-by-step explanation:

14641 =10000(1+10/100)^2n

⇒14641/10000=(11/10)^2n

⇒ (11/10)^4 =(11/10)^2n

⇒ 2n = 4

⇒n = 2 years