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

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Question

(a) Rate of interest $=10 \%$ per annum. So, rate of interest for half-yearly $=5 \%$ Therefore, $A=P \frac{(1+R)^{T}}{100}$

$926.10=800 \frac{(1+5

Vedclass · Accepted Answer

$1.5$

Vedclass · Answer

(a) Rate of interest $=10 \%$ per annum. So, rate of interest for half-yearly $=5 \%$ Therefore, $A=P \frac{(1+R)^{T}}{100}$

$926.10=800 \frac{(1+5)^{T}}{100}$

$926.10=800 \frac{(100+5)^{T}}{100}$

$926.10=800 \frac{(21)^{T}}{20}$

$\frac{926.1 	imes 10}{8000 	imes 10}=\left(\frac{21}{20}ight)^{T}$

$\frac{9261}{8000}=\left(\frac{21}{20}ight)^{T}$

$\left(\frac{21}{20}ight)^{3}=\left(\frac{21}{20}ight)^{T}$

Hence, time $=3$ half-years

$=1 \frac{1}{2}$ years

In how many years will a sum of ₹ $800$ at $10 \%$ per annum compound interest, compounded semiannually becomes ₹ $926.10$?

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