What sum will we become rupees 37044 in 18 month if the rate of interest is 10% per annum and the interest is compounded half yearly
Answers
Answered by
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
Similar questions