Arithmetichard · Past Paper
In how many years will Rs 8000 amount to Rs 9261 at 5% p.a. compounded semi-annually?
A1 year
B1.5 years
C2 years
D3 years
✓ Correct Answer: B — 1.5 years
9261/8000 = (1 + 0.025)^n => 1.157625 = (1.025)^n. 1.025^3 = 1.157625. So n=3 half-years = 1.5 years.
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