Question

what sum will amount to 9826 in 18 months if the rate of interest is 2.5 % per annum, compounded half - yearly​

Answer 1

Answer:

r =2

2

1

% =

2

5

%

n =18 months =

2

3

years

When the interest is compounded half

yearly,

A=P(1+

2×100

r

)

n×2

=>9826=P

⎝

⎜

⎜

⎛

1+

2×100

2

5

⎠

⎟

⎟

⎞

2

3

×2

=>9826=P(

80

81

)

3

=>P=Rs 9466.54