Question 52

If ₹ 2,000 is invested at the rate of 20% per annum, compounded half-yearly, then the
amount after 18 months will be:

Solution

corect answer should be 2662 rs

Given,Principal,P=Rs.2000

Compoindrate,R=20%perannum

=$$\frac{20}{2}$$=10%half - yearly

Time=18month=3half - years

Amount,A=$${P\times [1+(\frac{R}{100})]^n}$$

=$${2000\times [1+(\frac{R}{100})]^3}$$

=$$\frac{2000\times 11\times 11\times 11}{10\times 10\times 10}$$

A=Rs.2662

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If ₹ 2,000 is invested at the rate of 20% per annum, compounded half-yearly, then theamount after 18 months will be: