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In how many months will Rs. 8,000 yield Rs. 2,648 as compound interest at 20% per annum compounded semi-annually?1). 182). 243). 124). 30 |
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Answer» Let n be NUMBER of half years Amount = 8000 + 2648 = 10648 From the problem statement ⇒ 10648 = 8000(1 + 0.2/2)n ⇒ 1.331 = (1.1)n ⇒ n = 3 ∴ 3 half year MEANS 18 months. |
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