Find the rate percent per annum, if Rs. 2000 amount to Rs. 2315.25 in an year and a half, interest being compounded six monthly.
Given,
Principal = Rs.2000
Amount = Rs.2315.25
Time = 1 years =
Let rate = R % per annum
A =
=
=
=
=
=
Hence ,
Rate = 10.25%