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.
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Answer:
r =2
2
1
% =
2
5
%
n =18 months =
2
3
years
When the interest is compounded half
yearly,
A=P(1+2×100r)
n×2
=>9826=P
1+
2×100
2
5
2
3
×2
=>9826=P(
80
81
)
3
=>P=Rs 9466.54
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