Question

What sum of money will amount to 27704 in one and a half years at 5% per annum compounded half yearly ?​

Answer 1

A = P(1+r/2×100)^n×2

=> 27,783 = P (1+10/200)^3/2×2

=> 27,783 = P (21/20)³

=> P = 27,783 (20/21)³

=> P = 24,000

The sum of Rs. 24,000 amount Rs. 27,783 in one and a half years at 10% per annum compounded half yearly.

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