Q17 of 89 Page 14

Find the rate at which a sum of money will become four times the original amount in 2 years, if the interest is compounded half-yearly.

Given,


Time = 2 years = 2×2 = 4 half years


Let rate = R % per annum =


Let principal = P


Amount becomes = 4P


So,


A =


=


=


=


=


Hence ,


Rate = 82.84 %


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