Question

Nikhil invests Rs 6000 in a
company at compound
interest compounded semi annually. He receives
Rs. 7986 after 18 months from the company. Find
the rate of interest per annum.​

Answer 1

Step-by-step explanation:

Using compound interest formula,

6000(1+\frac{r}{2})^2^(^1^.^5^)=7986 where r is nominal annual rate

After the arithmetic, you should get r=0.2, which is 20%

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