The CI on a sum of 18500 is 8140. For how much time was the sum borrowed if the rate of interest was 20% pa
Answers
Answer:
Dear Student,
SOLUTION:
Given:
●Interest is computed half yearly.
●Sum is of Rs.18500.
●Rate of 40% per annum.
● Time of 18 Months.
Compound Interest...
ci = a - pci=a−p
Where CI is Compound Interest, A is amount and P is principle....
a = p(1 + \frac{r}{100} ) ^{n}a=p(1+
100
r ) n
Where a is amount, P is principle, r is rate per annum, and n is time it given years....
In half early the Rate becomes half of the original... (I.e. is the Rate is 10%per annum it will be 5% per annum in half early)
And years are counted as halfs of the years (I.e. If the time is given 1 year then it will be 2 half years in half yearly).
SOLUTION:
a = 18500(1 + \frac{20}{100} )^{3}a=18500(1+
100
20
)
3
In Time, we can write 18 months as 1 1/2 years which can be written as 3 half years.
a = 31968a=31968
So, Compound Interest