Question

Sohan purchased Rahat Patras for 1000, a sum which will fetch him * 2000 after 5 years. Find the rate of
interest if the interest is compounded half yearly.​

Answer 1

Answer:

Rate of interest = 14.35 per cent per year

Step-by-step explanation:

P = principal amount = 1000

R = rate of interest per cent per year

T = number of years = 5

m = compounding interval = 2         (six-monthly compounding)

A = final amount = 2000

A = P(1 + (R/m)/100)^Tm

Substituting the various values,

2000 = 1000*(1 + (R/2)/100)^10

2 = (1+(R/2)/100)^10

(1 + (R/2)/100) = 2^(1/10)

(R/2)/100 = 2^(1/10) - 1

R/2  = 100*[2^(1/10) - 1]

R = 200*[2^(1/10) - 1]

R = 14.35 %

Rate of interest = R = 14.35 per cent per year

Hope it will help you yaar

Stay blessed.....

Answer 2

Answer:

rate of interest 14.35 percent