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ICSE Class 8 Answered

find the rate at which a sum of money will become 4 times the original amount in 2 years , if the interest is compounded half yearly.
Asked by kideuttam | 09 Feb, 2015, 06:03: PM
answered-by-expert Expert Answer
L e t space P space b e space t h e space s u m space o f space m o n e y space i n space o r i g i n a l. G i v e n space t h a t space A m o u n t equals 4 cross times P n equals 2 space a n d space t h e space i n t e r e s t space i s space c o m p o u n d e d space h a l f space y e a r l y. T h u s space A equals P open parentheses 1 plus R over 200 close parentheses to the power of 2 n end exponent S i n c e space A equals 4 P comma space w e space h a v e comma 4 P equals P open parentheses 1 plus R over 200 close parentheses to the power of 2 cross times 2 end exponent rightwards double arrow 4 equals open parentheses 1 plus R over 200 close parentheses to the power of 4 rightwards double arrow 4 cross times 200 to the power of 4 equals open parentheses 200 plus R close parentheses to the power of 4 rightwards double arrow 6400000000 equals open parentheses 200 plus R close parentheses to the power of 4 rightwards double arrow 64 cross times 100000000 equals open parentheses 200 plus R close parentheses to the power of 4 rightwards double arrow 2 to the power of 6 cross times 10 to the power of 8 equals open parentheses 200 plus R close parentheses to the power of 4 rightwards double arrow open square brackets 2 square root of 2 cross times 10 squared close square brackets to the power of 4 equals open parentheses 200 plus R close parentheses to the power of 4 rightwards double arrow 200 square root of 2 equals 200 plus R rightwards double arrow R equals 200 open parentheses square root of 2 minus 1 close parentheses %
Answered by Vimala Ramamurthy | 09 Feb, 2015, 11:00: PM

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