What sum of money will amount to 78718.05 at the rate of 10% pa compounded annually in 3 years?

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What sum of money will amount to Rs. 27,783 in one and a half years at 10% per annum compounded half yearly ?

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Solution

Given that A = Rs 27,783 R = 10 % p.a. T = 1 + 12 years = 2+12 years = 32 years Solution When the interest is compounded half - yearly A=P(1+R200)32 × 2 →27,783=P(1+10200)3 (adsbygoogle = window.adsbygoogle || []).push({}); →27,783=P×((200+10200)3 →27,783=P×(210200)3 →27,783=P×(2120)3 →27,783=P×9,2618,000 →P=27,783×8,0009,261 →P=₹24,000

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