A) \[1\frac{1}{2}\]years
B) 2 years
C) \[2\frac{1}{2}\]years
D) 3 years
Correct Answer: A
Solution :
Time = \[t\]half year = R = 5% per half year \[\therefore \,\,A=P{{\left( 1+\frac{R}{100} \right)}^{T}}\] \[\Rightarrow \,\,\,\frac{92610}{80000}={{\left( 1+\frac{5}{100} \right)}^{T}}\] \[\Rightarrow \,\,\,\frac{9261}{8000}={{\left( \frac{21}{20} \right)}^{T}}\] \[\Rightarrow \,\,T=3\]half years \[\Rightarrow \,\,{{\left( \frac{21}{20} \right)}^{3}}={{\left( \frac{21}{20} \right)}^{T}}\]
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