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In what time Rs.8,000 will amount to Rs.9,261 at 10% per annum compound interest, when the interest is compounded half yearly ?
Options:
A .  2 years
B .  3$1/2$ years
C .  2$1/2$ years
D .  1$1/2$ years
Answer: Option D
Answer: (d)Using Rule 1 and 2,Interest is compounded half yearly.Rate of interest = 5%Time = $n/2$ years (let)or n half-yearsA = P$(1 + R/100)^T$9261 = 8000$(1 + 5/100)^n$$9261/8000 = (21/20)^n$$(21/20)^3 = (21/20)^n$n = 3 half years= $3/2$ years = $1{1}/2$ years

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