Question

What sum will amount to rs 6760 at 8% per annum in 1 year when the interest is compounded half yearly?

Answer 1

#ANSWERWITHQUALITY  #BAL

Step-by-step explanation:

Given that, Amount(A) = Rs. 6760

Rate of interest(R)  = 8%

Time(t) = 1 year

Period(n) = no of times the interest is compounded per year = 2

Let the Sum of money be Rs. P.

Since,

$A=P(1+\frac{R}{n*100} )^{nt}\\=>6760=P(1+\frac{8}{2*100} )^{2}\\=>6760=P(1+\frac{1}{25} )^{2}\\=>6760=P(\frac{26}{25})^{2}\\=>\frac{6760*25*25}{26*26}=P\\=>6250=P$

∴The required sum of money is Rs. 6250.

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Answer 2

Answer:

Step-by-step explanation:

Answer=1 year