A sum of Rs. 8000 was invested at a rate of 30% for a certain time com

1.	A sum of Rs. 8000 was invested at a rate of 30% for a certain time compounded half yearly. The interest is 4167. Find the time (in years) it was invested for. 1. 32. 1.53. 54. 2.5
Answer» Correct Answer - Option 2 : 1.5 Given: Sum = Rs. 8000 Rate of interest = 30% compounded half yearly Interest = Rs. 4167 Formula: If the interest is compounded half yearly, the rate of interest will be halved and time will be doubled. CI = P [1 + (R/100)]ⁿ – P Calculation: CI = P [1 + (R/100)]ⁿ - P 4167 = 8000 [1 + (15/100)]ⁿ- 8000 (1.15)ⁿ = 12167/8000 N = 3 Hence, time = 3/2 = 1.5 years ∴ The required time is 1.5 years

A sum of Rs. 8000 was invested at a rate of 30% for a certain time compounded half yearly. The interest is 4167. Find the time (in years) it was invested for. 1. 32. 1.53. 54. 2.5

Answer» Correct Answer - Option 2 : 1.5

Given:

Sum = Rs. 8000

Rate of interest = 30% compounded half yearly

Interest = Rs. 4167

Formula:

If the interest is compounded half yearly, the rate of interest will be halved and time will be doubled.

CI = P [1 + (R/100)]ⁿ – P

Calculation:

CI = P [1 + (R/100)]ⁿ - P

4167 = 8000 [1 + (15/100)]ⁿ- 8000

(1.15)ⁿ = 12167/8000

N = 3

Hence, time = 3/2 = 1.5 years

∴ The required time is 1.5 years

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A sum of Rs. 8000 was invested at a rate of 30% for a certain time compounded half yearly. The interest is 4167. Find the time (in years) it was invested for. 1. 32. 1.53. 54. 2.5

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