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A certain sum, invested with interest of 12% per annum, compounded semiannually amounts to Rs. 7022.50 at the end of 1 year. The sum is1). Rs. 6,0002). Rs. 6,5203). Rs. 6,2504). Rs. 6,500 |
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Answer» $(A = P{\left( {1 + \frac{R}{{n \times 100}}} \RIGHT)^{n \times t}})$ Where, A is AMOUNT, P is sum, r is RATE%, t is time in years, n is number of times INTEREST is compounded annually. Given, certain sum, invested with interest of 12% per annum, compounded semiannually amounts to Rs. 7022.50 at the end of 1 year $(\Rightarrow 7022.50 = P{\left( {1 + \frac{{12}}{{200}}} \right)^2})$ ⇒ 7022.50 = 1.062 P ⇒ P = Rs. 6250 |
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