Question

in what time will ₹ 64000 amount to ₹ 68921 at 5% per annum, the interest being compounded half-yearly?

Answer 1

Answer:

1 1 / 2  YEARS.

Step-by-step explanation:

Given Principal = 64000, Amount= 68921 ROI = 5% p.a

By formula of compound interest for half year compunding

Amount = P* ( 1+R/200)n

Amount=P(1+R2×100)2×t

68921=64000(1+52×100)2×t

6892164000=(1+140)2×t

(4140)3=(4140)2×t

2t=3

t=3 / 2

t=1 1 / 2 years.

∴ THE ANSWER IS 1 1/2