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Compound Interest

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  1. Rs. 1600 at 10% per annum compounded half yearly amount to Rs. 1944.81 in ?
    1. 2 years
    2. 3 years
    3. 11/2 years
    4. 21/2
Correct Option: A

1600(1 +5/100)t = 1944.81
⇒ (21/20)t =194481/160000 =(441/400)2 = (21/20)4
∴ T = 4( half years)
⇒ Required time =2 years


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