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