In what time will Rs. 4400 become Rs. 4576 at 8% per annum interest co

1.	In what time will Rs. 4400 become Rs. 4576 at 8% per annum interest compounded half-yearly?
Answer» Given details are, Rate = 8% per annum = 8/2 = 4% (half yearly) A = Rs 4576 Principal (P) = Rs 4400 Let n be ‘2T’ By using the formula, A = P (1 + R/100)ⁿ 4576 = 4400 (1 + 4/100)^2T 4576 = 4400 (104/100)^2T (104/100)^2T = 4576/4400 (104/100)^2T = 26/25 (26/25)^2T = (26/25)¹ So on comparing both the sides, n = 2T = 1 ∴ Time required is ½ year.

In what time will Rs. 4400 become Rs. 4576 at 8% per annum interest compounded half-yearly?

Answer»

Given details are,

Rate = 8% per annum = 8/2 = 4% (half yearly)

A = Rs 4576

Principal (P) = Rs 4400

Let n be ‘2T’

By using the formula,

A = P (1 + R/100)ⁿ

4576 = 4400 (1 + 4/100)^2T

4576 = 4400 (104/100)^2T

(104/100)^2T = 4576/4400

(104/100)^2T = 26/25

(26/25)^2T = (26/25)¹

So on comparing both the sides, n = 2T = 1

∴ Time required is ½ year.