Question

When will * 8,000 amount to 8,820 at 10% per annum interest compounded half-yearly?​

Answer 1

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1 year

Interest rate per conversion period,

2

10%

=5%=0.05

Principal(P)=Rs.8,000

Amount(A

n

)=Rs.8,820

A

n

=P(I+i)n

8,820=8,000(1+0.05)

n

8,820/8,000=(1+0.05)

n

1.1025=(1.05)

n

(1.05)2=(1.05)

n

n=2; Hence number of conversion period is 2 and the required time =

2

n

=

2/ 2 = 1 year

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Answer 2

Answer:

1 years

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Step-by-step explanation:

$interest \: rule \: per \: conversion \: period \: \frac{10\% }{2 } \\ 5\% = 0.05 \\ p = rs \: 8000 \\ a = rs8820 \\ a = p(l + i)n \\ 8820 = 8000(1 + 0.05)n \\ 8820 \: \: 8000 = (1 + 0.05)n \\ 1.1025 = (1.05)n \\ (1.05)2 = (1.05)n \\ n = 2 \: \: hence \: number \: of \: conversion \: period \: is \: 2 \: and \: the \: required \: time = \frac{n}{2 = \frac{2}{2 = 1year} }$