Question

what rate percent per annum compound interest will 20000 amount to rupees 30000 in 3 years if the interest is compounded half yearly​

Answer 1

The compound interest on Rs.2,000 at 10% per annum for 3 years payable half yearly is

a) Rs.600

b) Rs.630

c) Rs.660

d) Rs.680

Read Solution (Total 3)

amt=2000(1+r/2/100)^2n formulae as it is half yearlly

amt=2000(1+1/20)^4

amt=2680.19

ci= 2680.19-2000 = 680.002 years agoHelpfull: Yes(4) No(1)

Per year 10% so per half year it is 5%

5% of 2000 is 100

5%of (2000+100) i.e 5% of 2100 is 105

5% of 2205 is 110.25

100+105+110.25=315.25

315.25 is CI for 1.5 years

So CI for 3 years will be 315.25×2=630.502 years agoHelpfull: Yes(3) No(4) preside over2 years agoHelpfull: Yes(0) No(0)