Find the rate percent per annum if Rs. 2000 amounts to Rs. 2315.25 in…

Question

Find the rate percent per annum if Rs. 2000 amounts to Rs. 2315.25 in one and half years interest being compounded half yearly.

Accepted Answer

Option A. 10%. Answer & Solution Answer: Option A Solution: & According to the question, & compounded half yearly & Rate = R2 & Time = 2T3 & Amount = P ( 1 + R2 × 100 )^3 & 2315.25 = 2000 ( 1 + R2 × 100 )^3 & 2315.252000 = ( 1 + R2 × 100 )^3 & 231525200000 = ( 1 + R2 × 100 )^3 & 92618000 = ( 1…