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ASUM OF RS 12000 amounts to rupees 17500 in 6 years at the a compound interest compounded half yearly.what is the rate of interest

Solution

ASUM OF RS 12000 amounts to rupees 17500 in 6 years at the a compound interest compounded half yearly.what is the rate of interest

Solution

Rate : 6.38813 \dots %

Solution steps

Translate the problem into an equation:

17500 = 12000 (1 + \frac{r}{2})^{2 \cdot 6}

Solve for

r, 17500 = 12000 (1 + \frac{r}{2})^{2 \cdot 6} : r = 6.38813 \dots %

Rate : 6.38813 \dots %

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