Question

In what time will rs. 6250 amount to rs.6632.55 at 4% compound interest half yearly?

Answer 1

Answer:

t = 3/2 yrs

Step-by-step explanation:

Given In what time will rs. 6250 amount to rs.6632.55 at 4% compound interest half yearly?

Since compound interest is half yearly we get r/2 = 4/2 = 2

time will be 2t

A = P(1 + r/100)^n

6632.55 = 6250(1 + 2/100)^2t

6632.55 / 6250 = (1 + 2/100)^2t

(51/50)^3 = (51/50)^2t

Since bases are same, exponents are equal.

So 2t = 3

   t = 3/2

So time = 3/2 years or 1.5 years