A certain sum of money is put at compound interest, compounded half-yearly. If the interest for two successive half-years are Rs. 650 and Rs. 760.50; find the rate of interest.

34

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32

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27

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38

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Solution

The correct option is A $34$
Difference between the C.I of two successive half -years= $760.50 - 650 = 110.50$
Time =6 months= $\frac{6}{12} = \frac{1}{2} y e a r s$
Rate of interest $= \frac{D i f f e r e n c e b e t w e e n t h e C . I o f t w o s u c c e s s i v e y e a r \times 100}{C . I o f p r e c e d i n g y e a r \times t i m e}$
$∴$ Rate of intereast= $\frac{110.50 \times 100 \times 2}{650 \times 1} = 34$ %

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A certain sum of money is put at compound interest, compounded half-yearly. If the interest for two successive half-years are Rs. 650 and Rs. 760.50; find the rate of interest.

The correct option is A 34Difference between the C.I of two successive half -years=760.50−650=110.50Time =6 months=612=12yearsRate of interest=DifferencebetweentheC.Ioftwosuccessiveyear×100C.Iofprecedingyear×time∴Rate of intereast=110.50×100×2650×1=34%