Question

Ramdeen purchased rahat patras ₹ 1000 a sum which will fetch him ₹ 2000 after 5 year's. Find the rate of interest if the interest is compounded half yearly

Answer 1

Answer:

300

Step-by-step explanation:

use formula

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

input the values you have :

since its for half a year n = 1/2

A = 2000

P = 1000

therefore :

2000= 1000(1 + R/100)^1/2

NOW SOLVE :

2000/1000 = 2

2 =(1 + R/100)^1/2

2^2 = 1 + R/100

4-1 = R/100

3*100 = 300

r = 300%