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      Question

      In what time will Rs. 25000 amount to Rs.

      26530.20 @ 4% compound interest payable half-yearly?
      A 3 year Correct Answer Incorrect Answer
      B 1 year 5 months Correct Answer Incorrect Answer
      C 1 year 6 months Correct Answer Incorrect Answer
      D Data inadequate Correct Answer Incorrect Answer
      E None of these Correct Answer Incorrect Answer

      Solution

      Since interest is compounded half-yearly, R = `(4)/(2)` = 2% p.a. and T =2xt = 2t years A= P [if gte msEquation 12]>P [if !msEquation]-->[endif]-->[1+ `(R)/(100)` ]t ⇒ 26,530.20 = 25,000[1+`(2)/(100)` ]2t ⇒ [if gte msEquation 12]> 26530.20 25000 [if !msEquation]--> `(26530.20)/(25000)` = [`(102)/(100)` [if gte msEquation 12]> 102 100 [if !msEquation]-->[endif]-->]2t ⇒ `(132651)/(125000)` = [`(102)/(100)` ]2t ⇒ [`(51)/(50)` ]3 = [ `(51)/(50)` ]2t ⇒ 2t = 3 yrs [if gte msEquation 12]>∴  [if !msEquation]-->[endif]-->t = `(3)/(2)` years.

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