Question
A certain sum, invested at 4% per annum compound interest, compounded half yearly, amounts to Rs.7,803 at the end of one year. The sum is
Answer: Option C
Answer: (c)Using Rule 1,Let the sum be P.As, the interest is compounded half-yearly,R = 2%, T = 2 half yearsA = P$(1 + R/100)^T$7803 = P$(1 + 2/100)2$7803 = $(1 + 1/50)^2$7803 = P$× 51/50 × 51/50$P = ${7803 × 50 × 50}/{51 × 51}$ = Rs.7500
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Answer: (c)Using Rule 1,Let the sum be P.As, the interest is compounded half-yearly,R = 2%, T = 2 half yearsA = P$(1 + R/100)^T$7803 = P$(1 + 2/100)2$7803 = $(1 + 1/50)^2$7803 = P$× 51/50 × 51/50$P = ${7803 × 50 × 50}/{51 × 51}$ = Rs.7500
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