What sum will become Rs.19683 in 18 months if the rate of interest is 2×1/2 per annum and the interest is compounded half yearly???
(a) Rs. 17962.12
(b) Rs. 18962.96
(c) Rs. 17981
(d) Rs. 16712.80
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What sum will become Rs.19683 in 18 months if the rate of interest is 2×1/2 per annum and the interest is compounded half yearly???
(a) Rs. 17962.12
(b) Rs. 18962.96
(c) Rs. 17981
(d) Rs. 16712.80
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Answer:
b)₹18962.96
Step-by-step explanation:
principal=x
rate=2×1/2%per annum
5/(2×2)=5/4
time=18months
18/6=3half year
amount=₹19683
A=P[1+r/100]^n
19683=x(1+5/400)^3
x=19683×80×80×80
81×81×81
x=10077686000
531441
x=18962.96
x=