Question

in what time will rs. 2400 amount to rs. 2646 at 10% per annum compounded semi- annualy?
can you solve with clear statements please?​

Answer 1

10 % annual so 5% semi annual
5% = 1/20 we can say 20 as principal and 1 interest so amount 20+1 = 21

Now 2646 / 2400 = (21/20)^n
We need to calculate value of n
So divide both by 6
441/ 400 = (21/20)^n
We can say 400 is the square of 20 so n= 2
It means we take 2 times interest so ans is 1 year

Answer 2

Given,

Principal (P) = Rs. 2400

Compound Amount (C.A.) = Rs. 2646

here,

5% for 6 months.

5/6 % for 1 month

(5/6)*12 for 12 months = 10% for 1 year = 10% p.a.

Rate (R) = 10% p.a.

Compound Interest Semi-Annually (Half-Yearly)

C.A. = P(1 + R/200)^2T

2646 = 2400(1 + 10/200)^2T

1.1025 = (1.05)^2T

(1.05)^2 = (1.05)^2T

2 = 2T

T = 1 year Ans.

Thankyou :)