Question

What sum will amount to Rs 1020.10 in 1 year, if the rate of interest is 2%
per annum, compounded half-yearly.​

Answer 1

Answer:

A =P(I +r/200) 2

= 1020.10=p(1+1/100) 2

= 1020.10/(1+1/ loo) 2

= 1020.10/1.01x1. Ol=1000

Principal amt=Rs 1000

Answer 2

Answer:

Given:-

A=Rs.4913

Time =23 years.

Rate of interest =12.5 per annum

Since the interest is compounded half-yearly.

Therefore,

n=3

R=12.5/2 = 6.25

As we know that,

A=P(1+100R)n

⇒4913=P(1+1006.25)3

⇒4913=P(1617)3

⇒P=49134913×4096=Rs.4096

Hence the sum will be Rs.4096