A man purchased one 6 years National saving certificate for Rs 1000 . After 6 years he got Rs 2015 .Find the rate of interest if it is compounded semi-anually

Asked by elainexavier103 | 22nd Aug, 2019, 06:11: PM

Expert Answer:

straight P equals 1000
straight t equals 6
straight n equals 2
straight A equals 2015
for space semi space annually
straight A equals straight P open parentheses 1 plus straight r over 200 close parentheses to the power of 2 cross times 6 end exponent
2015 equals 1000 cross times open parentheses 1 plus straight r over 200 close parentheses to the power of 2 cross times 6 end exponent
straight r equals 6.01 percent sign

Answered by Arun | 24th Aug, 2019, 03:30: PM