Question

what time will 2000 amount to 2662 at 20%
per annum compounded half yearly?​

Answer 1

Answer:at the time of 3 years principal 2000 will amount to 2662

Answer 2

In 1.5 years, the sum will amount to 2662 compounded half yearly

Solution:

Given that,

Principal sum = 2000

Amount = 2662

Rate of interest = 20%

The formula for compounded half-yearly is:

$A=P\left(1+\frac{R / 2}{100}\right)^{2 t}$

Substituting the values, we get

$2662=2000\left(1+\frac{20 / 2}{100}\right)^{2 t}$

$\begin{array}{l}{\frac{2662}{2000}=\left(1+\frac{10}{100}\right)^{2 t}} \\\\ {\frac{1331}{1000}=\left(\frac{11}{10}\right)^{2 t}} \\\\ {\frac{11 \times 11 \times 11}{10 \times 10 \times 10}=\left(\frac{11}{10}\right)^{2 t}} \\\\ {\left(\frac{11}{10}\right)^{3}=\left(\frac{11}{10}\right)^{2 t}}\end{array}$

On comparing we get,

2t = 3

t = 1.5

Hence in 1.5 years, the sum will amount to 2662 compounded half yearly

Learn more about compounded half-yearly

In how many years rs 2000 will amount to rs 2100 at 10 % annum compounded half yearly ?

https://brainly.in/question/9101610

What time will become rupees 2025 in 2 years at 12.5% per annum compound interest?

https://brainly.in/question/2260948