Question

Lalit invests 4000 at 10% per annum compounded
half-yearly for a certain time period. At the end of
this period, his investment amounts to 4410. Find
the time for which Lalit had invested his money.​

Answer 1

Step-by-step explanation:

principle of lalit=4000

rate of interest when compounded yearly=10%

rate of interest when compounded half yearly=10/2=5%

amount at the end of certain time period=4410

let the time period be t,

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

4410=4000(1+5/100)^t

4410/4000=(1+1/20)^t

441/400=(21/20)^t

(21/20)^2=(21/20)^t

2=t

t=2

therefore the time for which lalit invested his money was 2 years