Question

in what time will rs 2400 amount to rs. 2646 at 10% per annum compounded semi-anually?
can you please solve it with statements? That would be a great help​

Answer 1

ᴜʀ ᴀɴsᴡᴇʀ ɪs ɪɴ ᴀʙᴏᴠᴇ ᴘʜᴏᴛᴏ

ʜᴏᴘᴇ ɪᴛ ʜᴇʟᴘ ᴜ ;)

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.