Assam of money is invested at 10% per annum compounded half yearly if the difference of amount and time of 6 months and 12 months is rupees 189 find the sum of money invested

Asked by bantikhan5069 | 13th Sep, 2019, 01:14: AM

Expert Answer:

Let the sum of money invested be Rs 100x
Rate of interest = 10% per annum
So, the rate of interest become 5% half yealry
Interest is 5x
Amount after 6 months = 105x
So, the amount after 12 months = 100x + 5x + 5.25x = 110.25x
Difference of amount in 6th and 12 th months = 110.25x-105x = 5.25x
Difference is given as Rs. 189
Therefore, 5.25x=189  i.e. x=36
Hence, the sum of money invested is Rs 3600.

Answered by Renu Varma | 13th Sep, 2019, 09:55: AM