Use app×
Join Bloom Tuition
One on One Online Tuition
JEE MAIN 2025 Foundation Course
NEET 2025 Foundation Course
CLASS 12 FOUNDATION COURSE
CLASS 10 FOUNDATION COURSE
CLASS 9 FOUNDATION COURSE
CLASS 8 FOUNDATION COURSE
0 votes
1.0k views
in Compound Interest by (49.2k points)
closed by

In how many years will a sum of Rs 800 at 10% per annum compound interest, compounded semiannually become Rs 926.10 ? 

(a) 1 year 

(b) 3 years

(c) 2 years

(d) 1\(\frac{1}{2}\) years

1 Answer

+1 vote
by (53.1k points)
selected by
 
Best answer

(d) \(1\frac{1}{2}\) years

P = Rs 800, r = 10% p.a. = 5% per half year, 

A = Rs 926.10, Time = 2n

\(\therefore\)  929.10 = 800\(\big(1+\frac{5}{100}\big)^{2n}\)

\(\Rightarrow\) \(\frac{9261}{8000}\) = \(\big(1+\frac{1}{20}\big)^{2n}\)  \(\Rightarrow\) \(\big(\frac{21}{20}\big)^3\) = \(\big(\frac{21}{20}\big)^{2n}\)

\(\Rightarrow\) 2n = 3 \(\Rightarrow\) n = \(\frac{3}{2}\)\(1\frac{1}{2}\) years.

Welcome to Sarthaks eConnect: A unique platform where students can interact with teachers/experts/students to get solutions to their queries. Students (upto class 10+2) preparing for All Government Exams, CBSE Board Exam, ICSE Board Exam, State Board Exam, JEE (Mains+Advance) and NEET can ask questions from any subject and get quick answers by subject teachers/ experts/mentors/students.

Categories

...