Question

When a amount is given at a compound interest rate of 18% per annum, the interest received on compound annual payable in two years will be Rs 960 more than half yearly interest. What is the amount?

​

Answer 1

Answer:

50000

Step-by-step explanation:

Rate of interest = 18%

Time = 2 year

When the interest is payable half yearly

Then, rate of interest = 9%

Time = 4 half - years

Let the principal be Rs. x

C.I. = x[(1+R100)T−1] =x[(1+9100)4−1]=x[(109100)4−1]=x[1.4116−1]=Rs.0.4116xAccording to question=x[(1+18100)2−1]=x[(118100)2−1]=x[(1.18)2−1]=x[1.3924−1]=Rs.0.3924xAccording to question,0.4116x−0.3924x=960⇒x=9600.0192⇒x=960×10000192⇒x=50000Hence, sum of money = Rs. 50000