Question

In what time will Rs. 3300 becomes Rs. 3399 at 6% per annum interest compounded half-yearly ?
A) Quarter months
B) Half year
C) 2 years
D) 1 year

Answer 1

P = Rs. 3300 
A = Rs. 3399
R = 6% per annum
Let the time be n years.
Compound interest is taken half-yearly.
A = P*[1+ (R/2*100)]2n
3399 = 3300(1+3/100)2n
(1.03)2n = 3399/3300
(1.03)2n = (1.03)1
Thus, 2n = 1 year
n = 1/2 year = 6 months.

Alternatively,

3300-----3%↑(1st time interval, 99)---→3399.
Here, time interval is given as half-yearly i.e. 6 months.

Answer 2

In what time will Rs. 3300 becomes Rs. 3399 at 6% per annum interest compounded half-years?
A) Quarter year✔✔✔
B) Half year
C) 2 years
D) 1 year

ĀNSWĒR ⏬⏬

A) Quarter year or 6 months

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