Question

In what time will Rs 2000 amount to Rs 2662 at 20% p.a. compounded half yearly?

Answer 1

Answer:

Principal =₹2000Amount =₹2662Rate=20% ,it is compounded half yearly so 20/2=10%Let the time be t years According to question= P(1+r/100)^t=amount 2000(1+10/100)^t=₹2662(11/10)^t=2662÷2000(11/10)^t=1331/1000(11/10)^t=(11/10)^3So, t=3 Therefore time =3 years

Answer 2

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Answer♡

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