Question

What sum invested for 2/3 years compounded half-yearly at the rate of 4% will amount to Rs. 132651?​

Answer 1

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11th

Applied Mathematics

Basics of financial mathematics

Accumulation with simple and compound interest

What sum invested for 1.5 y...

Maths

What sum invested for 1.5 year amount to 132651 in 1

2

1

years compounded half yearly at the rate of 4% p.a.?

Medium

Answer

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It is given that

Amount (A) = 132651

Rate of interest (r) = 4% p.a. or 2% half yearly

Period (n) = 1

2

1

years or 3 half years

We know that

A = P(1+r/100)

n

It can be written as

P=A÷(1+r+r/100)

n

Substituting the values

= 132651÷(1+2/100)

3

By further calculation

=132651÷(51/50)

3

So we get

=132651×(50/51)

3

=132651×50/51×50/51×50/51

= 125000

Hence, the principal amount is 125000.

Step-by-step explanation:

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