In how many years will a sum of ₹ 800 at 10 % | vedclass

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(B) Let the required number of years be $N$.Since the interest is compounded semi-annually,the rate per period is $r = 10 / 2 = 5 \%$ and the number o

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$1.5$

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(B) Let the required number of years be $N$.Since the interest is compounded semi-annually,the rate per period is $r = 10 / 2 = 5 \%$ and the number of periods is $2N$.The formula for compound interest is $A = P(1 + r/100)^n$.Substituting the given values: $926.10 = 800(1 + 5/100)^{2N}$.$926.10 = 800(1.05)^{2N}$.$(1.05)^{2N} = 926.10 / 800$.$(1.05)^{2N} = 1.157625$.We know that $(1.05)^3 = 1.157625$.Therefore,$2N = 3$.$N = 3 / 2 = 1.5$ years.

In how many years will a sum of ₹ $800$ at $10 \%$ per annum compounded semi-annually become ₹ $926.10$?

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