A sum of money is put on CI for 2 years at 20%. It would fetch Rs 482 more if the interest is payable half yearly than if it were payable yearly. Find the sum.

Question

A sum of money is put on CI for 2 years at 20%. It would fetch Rs 482 more if the interest is payable half yearly than if it were payable yearly. Find the sum.
🧐 Not the exact question you are looking for?Go ask a question

Solution 1

Sure, here is the step by step solution:

Step 1: Understand the problem The problem is about compound interest (CI). We are given that the interest rate is 20% per annum, the time period is 2 years, and the difference in the amount of interest when it is compounded yearly and half-yearly is Rs 482. Knowee AI StudyGPT is a powerful AI-powered study tool designed to help you to solve study prob

Knowee AI StudyGPT is a powerful AI-powered study tool designed to help you to solve study problem.
Knowee AI StudyGPT is a powerful AI-powered study tool designed to help you to solve study problem.
Knowee AI StudyGPT is a powerful AI-powered study tool designed to help you to solve study problem.
Knowee AI StudyGPT is a powerful AI-powered study tool designed to help you to solv

This problem has been solved

Similar Questions

A sum of money is put on CI for 2 years at 20%. It would fetch Rs 482 more if the interest is payable half yearly than if it were payable yearly. Find the sum.

A sum was put at simple interest at certain rate for 3 years. Had it been put at 3% lesser ratio,it would have fetch Rs.500 less.Find the sum.

Find the CI on Rs.6550 at 4% pa for 2 years compounded half yearly(approx) ?Rs.537.1Rs.527.2Rs.530.7Rs.547.1

nd the CI on Rs.6550 at 4% pa for 2 years compounded half yearly(approx) ?Rs.537.1Rs.527.2Rs.530.7Rs.547.1

In what time will Rs. 64,000 amount to Rs.68921 at 5% per annum interest being compounded half yearly?

1/3