SSC CPO SI and ASI 2015 Paper

Question : 136 of 199

Marks: +1, -0

Find the rate per cent per annum, if Rs.2000 amounts to Rs.2315.25 in a year and a half, interest being compounded half yearly.

Solution:

(3) Time period

=2 ×{3}/{2}=3

Let the rate of interest be

r

{C} . \ {l} .=\ {P} (1+\ {r}/{100} )^{3}

\ { {C.l.}}/{ {P}}=\ (1+\ { {r}}/{100}\ )^{3}

{2315.25}/{2000}=\ {231525}/{200000}

= {9261}/{8000}=\ (1+ {\ {r}}/{100}\ )^{3}

Therefore,

r=5 \%

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