SSC CPO SI and ASI 2015 Paper

Question : 114 of 199

Marks: +1, -0

In what time will Rs. 64000 amount to Rs. 68921 at 5% per annum, if the interest is compounded half yearly?

Solution:

(1) Let the time be t years. Now,

68921=64000\ (1+{5}/{200}\right)^{t}

⇒ {68921}/{64000}=\ (1+\ {5}/{200}\ )^{t}

⇒\ ( {41}/{40}\ )^{3}=\ (\ {41}/{40}\ )^{t}

Therefore,

t=3

years.

Go to Question:

Prev Question

Next Question