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Question: What sum invested at 4% per annum compounded semi-annually amounts to7803 at the end of one year? |
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Answer» N:What sum invested at 4% per ANNUM COMPOUNDED semi-annually amounts to7803 at the end of one year? Answer:It is given that AMOUNT (A) = 7803Rate of interest (r) = 4% p.a. or 2% semi-annuallyPeriod (n) = 1 year or 2 half years We KNOW that A = P(1+r/100) n Substituting the values =7803(1+2/100) 2 By further calculation =7803=P(51/50) 2 ⟹P=7803×50/51×50/51=7500Hence, the principal is 7500. |
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