What sun will become Rs 9826 in 18 months if the rate of interest is 112% per annum and the interest is compounded half-yearly?
r =212 % =52 % n =18 months $ = \dfrac {3}{2} $ years
When the interest is compounded half yearly,
A=P(1+r2×100)n×2
=>9826=P⎛⎜
⎜
⎜⎝1+522×100⎞⎟
⎟
⎟⎠32×2
=>9826=P(8180)3
=>P=Rs9466.54