A) \[1\frac{1}{2}\]yr
B) 2 yr
C) 1 yr
D) \[2\frac{1}{2}\]yr
Correct Answer: A
Solution :
Let the required lime = t years |
Interest is compounded half yearly. |
\[\therefore \]Time = 2t half years and rate \[=\frac{20}{2}=10%\] |
\[\therefore \] \[1000{{\left( 1+\frac{10}{100} \right)}^{2t}}=1331\] |
\[\Rightarrow \] \[{{\left( \frac{11}{10} \right)}^{2t}}=\frac{1331}{1000}\] |
\[\Rightarrow \] \[{{\left( \frac{11}{10} \right)}^{2t}}={{\left( \frac{11}{10} \right)}^{3}}\] |
\[\Rightarrow \] \[2t=3\] |
\[\therefore \] \[t=\frac{3}{2}\text{yr}\] |
You need to login to perform this action.
You will be redirected in
3 sec