Question

in what time will 8000 amount to 8820 at 10% per annum interest compounded half yearly​

Answer 1

Answer:

interest rate per conversion period 10%/2=5%=0.05

principal(p)=Rs.8000

Amount(A)=Rs.8820

A=p(I+i)n

8820=8000(1+0.05)n

8820/8000=(1+0.05)n

1.1025=(1.05)n

(1.05)2=(1.05)n

n=2;Hence number of conversation period is 2 and the required time =n/2=2/2=1 year