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Find the rate percent per annum, If Rs. 2000 amounts to Rs.2,315.25 In a year and a half. Interest being compounded half yearly.

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Find the rate percent per annum, If Rs. 2000 amounts to Rs.2,315.25 In a year and a half. Interest being compounded half yearly.
1). 11.5%
2). 10%
3). 5%
4). 20%

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2 answers

0 vote
Answered by on | Votes 0 |
Correct answer is: option 2

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3 vote
Answered by on | Votes 3 |

.Time = 3 half years

Rate = 2R% per annum
= R% per half year

= Principal – $(1+\frac{(Rate)^{Time}}{100})$

2315.25 = 2000 $(1+\frac{(R)^{3}}{100})$

R = $\frac{100}{20}$

= 5% per half year
Required rate
= 10% per annum




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