A) \[\frac{1}{2}yr\]
B) \[1\,yr\]
C) \[2y\]
D) \[\frac{3}{4}y\]
Correct Answer: A
Solution :
| [a] \[A=P{{\left( 1+\frac{r}{100} \right)}^{n}}\] \[\Rightarrow \] \[3362=3200{{\left( 1+\frac{10}{400} \right)}^{n}}\] \[\Rightarrow \] \[\frac{3362}{3200}={{\left( \frac{41}{40} \right)}^{n}}\]\[\Rightarrow \]\[\frac{1681}{1600}={{\left( \frac{41}{40} \right)}^{n}}\] \[\Rightarrow \] \[n=2\] quarter \[=\frac{1}{2}yr\] |
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