Question

What rate percent per annum will a sum of Rs5760 amount to Rs7290 in 1 year compounded half yearly ?

Answer 1

Answer:

12.5 %

Step-by-step explanation:

Amount = 7290

Principle = 5760

Time = 1 year

According to the question:-

amount = principle ( 1 + r/100)¹

=> 7290 = 5760 ( 1 + r/100)¹

=>7290/5760 = ( 1 + r/100)¹

=>729/576 = ( 1 + r/100)¹

=> (27/24)² = ( 1 + r/100)¹

=> 27/24 = 1 + r/100

=> 100 + r/100 = 27/24

=> 24(r+100) = 27 × 100

=> 24r + 2400 = 2700

=> 24r = 2700 – 2400

=> 24r = 300

=> r = 300/24

=> r = 12.5

Rate = 12.5% ( Ans)

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