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a sum of money amounts to rs 13230 in 1 year and rs 13891.50 in 1.5 year at compound intrest compounded semi anually. Find the sum and the rate of intrest per anum.
let the sum = prate of interest = r %A1 = 13230A2 = 13891.50rate of interest in half yearly will be = r/2 % (conversion period)as the amount is invested for 1 year and 1.5 years so conversion are 2 and 3 A = P(1 + r/100)^n13230 = P(1 + r/200)^2 …..........(i)13891.5 = P(1 + r/200)^3 …...........(ii)divide (ii) by (i) 1 + r/200 = 1.05r/200 = .05r = 10 %put the value of r in (i) or (ii) – P = 12000 rupees
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