Question 78

A sum of money when invested for a year at the rate of 10% interest per annum compounded half-yearly becomes ₹ 44,100 at maturity. The sum invested was ............

Solution

Here rate is given compunded half yearly.

we multiple with 2 in time , $$t=\ \frac{\ 1}{2}\times\ 2=1$$ and divided by 2 in rate %,$$r=\ \frac{\ 10\%}{2}=5\%$$

fraction value of 5%=$$\ \frac{\ 1}{20}$$,

now

Hence option 'A' is correct.

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