16000riod of the investment.invested at 10% pa. compounded semi-annual

1.	16000riod of the investment.invested at 10% pa. compounded semi-annually amounts toDur aholl eompound interest?19. 1600018522, Find the time
Answer» Principal (P) = Rs. 16000 Rate of interest = 10 % ⇒10/2 = 5 % compounded semi annually Amount (A) = Rs. 18522 Let the number of six monthly period be 'n' A = P(1 + R/100)ⁿ ⇒ 18522 = 16000(1 + 10/100)ⁿ ⇒ 18522/16000 = [(20 + 1)/20]ⁿ ⇒ 9261/8000 = (21/20)ⁿ ⇒ (212121)/(202020) = (21/20)ⁿ ⇒ (21/20)³ = (21/20)ⁿ ⇒ n = 3 Three periods of 6 months = 1 1/2 years. Like my answer if you find it useful!

16000riod of the investment.invested at 10% pa. compounded semi-annually amounts toDur aholl eompound interest?19. 1600018522, Find the time

Answer»

Principal (P) = Rs. 16000

Rate of interest = 10 %

⇒10/2 = 5 % compounded semi annually

Amount (A) = Rs. 18522

Let the number of six monthly period be 'n'

A = P(1 + R/100)ⁿ

⇒ 18522 = 16000(1 + 10/100)ⁿ

⇒ 18522/16000 = [(20 + 1)/20]ⁿ

⇒ 9261/8000 = (21/20)ⁿ

⇒ (21*21*21)/(20*20*20) = (21/20)ⁿ

⇒ (21/20)³ = (21/20)ⁿ

⇒ n = 3

Three periods of 6 months = 1 1/2 years.

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