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What sum will become Rs. 9724.05 in 2 years if the rate of interest is 10% compounded half yearly?
- a)Rs. 6000
- b)Rs. 6800
- c)Rs. 7200
- d)Rs. 8000
Correct answer is option 'D'. Can you explain this answer?
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Verified Answer
What sum will become Rs. 9724.05 in 2 years if the rate of interest is...
We know A =p
Here r = 10/2 = 5%
and n = 2 x 2 = 4
∴ 9724.05 = P
Here r = 10/2 = 5%
and n = 2 x 2 = 4
∴ 9724.05 = P
9724.05 = P 
9724.05 = P
9724.05 = P
Most Upvoted Answer
What sum will become Rs. 9724.05 in 2 years if the rate of interest is...
Use the compound interest formula
in this case n=4
P(1+r/100)^n
in this case n=4
P(1+r/100)^n
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Community Answer
What sum will become Rs. 9724.05 in 2 years if the rate of interest is...
To find the sum that will become Rs. 9724.05 in 2 years with a 10% interest rate compounded half-yearly, we can use the formula for compound interest:
\[A = P \left(1 + \frac{r}{n}\right)^{nt}\]
Where:
A = Final Amount (9724.05)
P = Principal Amount (the initial sum we need to find)
r = Rate of interest per annum (10% or 0.1)
n = Number of times interest is compounded per year (2 times since it is compounded half-yearly)
t = Time in years (2 years)
Let's calculate the principal amount (P) using the given formula:
\[P = \frac{A}{\left(1 + \frac{r}{n}\right)^{nt}}\]
Substituting the given values into the formula:
\[P = \frac{9724.05}{\left(1 + \frac{0.1}{2}\right)^{2 \times 2}}\]
Simplifying the equation:
\[P = \frac{9724.05}{\left(1 + 0.05\right)^{4}}\]
\[P = \frac{9724.05}{1.05^{4}}\]
\[P = \frac{9724.05}{1.21550625}\]
\[P = 8000\]
Therefore, the sum that will become Rs. 9724.05 in 2 years with a 10% interest rate compounded half-yearly is Rs. 8000.
\[A = P \left(1 + \frac{r}{n}\right)^{nt}\]
Where:
A = Final Amount (9724.05)
P = Principal Amount (the initial sum we need to find)
r = Rate of interest per annum (10% or 0.1)
n = Number of times interest is compounded per year (2 times since it is compounded half-yearly)
t = Time in years (2 years)
Let's calculate the principal amount (P) using the given formula:
\[P = \frac{A}{\left(1 + \frac{r}{n}\right)^{nt}}\]
Substituting the given values into the formula:
\[P = \frac{9724.05}{\left(1 + \frac{0.1}{2}\right)^{2 \times 2}}\]
Simplifying the equation:
\[P = \frac{9724.05}{\left(1 + 0.05\right)^{4}}\]
\[P = \frac{9724.05}{1.05^{4}}\]
\[P = \frac{9724.05}{1.21550625}\]
\[P = 8000\]
Therefore, the sum that will become Rs. 9724.05 in 2 years with a 10% interest rate compounded half-yearly is Rs. 8000.
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What sum will become Rs. 9724.05 in 2 years if the rate of interest is 10% compounded half yearly?a)Rs. 6000b)Rs. 6800c)Rs. 7200d)Rs. 8000Correct answer is option 'D'. Can you explain this answer?
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