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Q.
In how many years will a sum of Rs.800 at 10% per annum compounded semi annually become Rs.926.10
A.
1.5
B.
2.5
C.
3.5
D.
4.5
View Answer
Correct choice: A
Explanation:
Let the time be 'n' years, Then 800×(1+5/100)2n=926.10 <=> (1+5/100)2n=9261/8000<=>(21/20)2n=(21/10)3 n = 3/2 or n= 1 1/2Years
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