Q17 of 94 Page 29

Find the rate percent per annum, if Rs. 2,000 amounts to Rs. 2,315.25 in an year and a half, interest being compounded half-yearly.

Principle = 2,000

Amount = 2,315.25


Time = 1.5 year


Interest rate = ?


Let interest rate be x


Amount = 2,000


2,315.25 = 2,000


– 200 = x


X = 10


∴ interest rate is 10%


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