Question

Rs 16000 invested at 10% p.a. compounded semi-annualy amounts to rs 18522.find the time period of the investment

Answer 1

1 year is the answer of this question because semi anually mean in 1 year two time the compund interst is added

Answer 2

Answer:

P = 16000

R = 10% ( rate% compounded semi-annually ) = 10/2 = 5%

A = 18522

Let the time be n

A = P(1+R/100)n

18522 = 16000(1+5/100)n

18522 = 16000(105/100)n

18522/16000 = (21/20)n

(21/20)³ = (21/20)n

If the bases are same the powers will also be equal

[n = 3]

2t = 3

t = 3/2 years

t = 1½yrs