In What Time will Rs.64000 Amount to Rs.68921 at 5% Per Annum, Interest being Compounded Half Yearly?

  1. 3/2 years
  2. 5/2 years
  3. 3 years
  4. 2 years
Monis Rasool Professor Asked on 27th June 2015 in Maths.
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1 Answer(s)

Answer: (1) 3/2 years
Explanation:-

Let be the time is T years.
According to the question,
68921 = 64000(1 + 5/2 x 100)2T
68921/64000 = (41/40)2T
(41/40)3 = (41/40)2T
Comparing on both side,
2T = 3
T = 3/2 years

Hence, the answer is (1) 3/2 years.

Anurag Mishra Professor Answered on 28th June 2015.
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