Question

*What will be the time period and rate of interest if interest is levied half yearly at 8% for 3/2 years?*

1️⃣ n= 3 , R= 4%
2️⃣ n= 6 , R= 4%
3️⃣ n= 6 , R= 2%
4️⃣ n= 4 , R= 3%​

Answer 1

Answer:

n = 3, R = 4%

Step-by-step explanation:

When compounded half-yearly, the rate is halved and the time is doubled.

Rate (R) = (8 ÷ 2) % = 4%

Time (n) = (3/2 × 2) years = 3 years