Question

Rishi invested 30000 in a finance company and received * 39930 after
15 years. Find the rate of interest per annum Compounded semi-annually​

Answer 1

Answer:

Rate of Interest per annum is 20%

Step-by-step explanation:

P= 30000 A=39930

T= 3 half years

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

39930=30000(1+r/100)^3

39930/30000=(1+r/100)^3

1331/1000=(1+r/100)^3

(11/10)^3=(1+r/100)^3

11/10=1+r/100

r/100=11/10-1=1/10

r=10%

So, rate of interest per annum is 20%