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A some of money amounts to Rs. 7803 for one year at the rate of 4 %compounded semiannnually then the sum invested is
- a)7000
- b)7500
- c)7750
- d)8000
Correct answer is option 'B'. Can you explain this answer?
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A some of money amounts to Rs. 7803 for one year at the rate of 4 %com...
Calculation of Compound Interest
Given that the amount is Rs. 7803 and the rate of interest is 4% compounded semiannually. Let us calculate the principal amount.
We can use the formula for compound interest:
A = P(1 + r/n)^(nt)
where,
A = amount
P = principal
r = rate of interest
n = number of times interest is compounded per year
t = time in years
Substituting the given values, we get:
7803 = P(1 + 0.04/2)^(2*1)
Simplifying the equation:
7803 = P(1.02)^2
7803 = 1.0404P
P = 7803/1.0404
P = 7500
Therefore, the sum invested is Rs. 7500.
Explanation
The given question involves calculating the principal amount when the compound interest, time period and final amount are given. We have used the formula for compound interest to calculate the principal amount. In this formula, we have substituted the given values and then simplified the equation to get the value of principal amount. The formula for compound interest is an important concept in finance and is used to calculate the amount of interest earned on investments or loans.
Given that the amount is Rs. 7803 and the rate of interest is 4% compounded semiannually. Let us calculate the principal amount.
We can use the formula for compound interest:
A = P(1 + r/n)^(nt)
where,
A = amount
P = principal
r = rate of interest
n = number of times interest is compounded per year
t = time in years
Substituting the given values, we get:
7803 = P(1 + 0.04/2)^(2*1)
Simplifying the equation:
7803 = P(1.02)^2
7803 = 1.0404P
P = 7803/1.0404
P = 7500
Therefore, the sum invested is Rs. 7500.
Explanation
The given question involves calculating the principal amount when the compound interest, time period and final amount are given. We have used the formula for compound interest to calculate the principal amount. In this formula, we have substituted the given values and then simplified the equation to get the value of principal amount. The formula for compound interest is an important concept in finance and is used to calculate the amount of interest earned on investments or loans.
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A some of money amounts to Rs. 7803 for one year at the rate of 4 %compounded semiannnually then the sum invested isa)7000b)7500c)7750d)8000Correct answer is option 'B'. Can you explain this answer?
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