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At what rate of percent compund intrest,₹800 amount to ₹926.10 in 1and half year, intrest being compounded half yearly

Posted by Deepakshi Kabra 6 years, 2 months ago

CBSE > Class 08 > Mathematics

1 answers

Deepakshi Kabra 3 years, 8 months ago

We have Principle =Rs2800 Amount =Rs926.10 Time period 1&21=3half yearly Let ′R′ be the rate of interest Now, A=P(1+100/R)^n ⇒926.10=800(1+100/R)^n ⇒9261/8000=(1+100/R)^3 ⇒(20/21)3=(1+100/R)^3 ⇒20/21=1+100/R[cancle3bothside] ⇒20/21−1=100/R ⇒ 1/20 =100/R ∴R=5% Hence, the required interest rate is 5%.

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CBSE > Class 08 > Mathematics