Given:
Principal (P) = Rs. 2200
Compound Interest (CI) = Rs. 3836.8
Time = 1.5 years (or 3 half-yearly periods)
Solution:
Compound Interest (CI) = Amount (A) - Principal (P)
Total amount (A) = CI + P = 3836.8 + 2200 = Rs. 6036.8
P = Rs. 2200
A = Rs. 6036.8
6036.8 = 2200 × (1 + r/200)³
Dividing both sides by 2200:
(1 + r/200)³ = 6036.8 ÷ 2200 ≈ 2.744
Taking the cube root of both sides:
1 + r/200 ≈ 1.4
r/200 ≈ 0.4
Therefore, r ≈ 80% per annum.
English
80 Questions
160 Marks
60 Mins English English20 Questions40 Marks12 Mins English English80 Questions160 Marks60 Mins EnglishNavjot invested a sum of ₹48,800 at 10% per annum for 1 year on compound interest (interest is compounded half-yearly). Find the amount received by him.
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