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Correct Answer:
| A) \( \Large 1\frac{1}{2} \) years |
Description for Correct answer:
Effective rate for half year=\( \Large \frac{10}{2}=5 % \)Time = 2n years926.10=\( \Large 800 \left(1+\frac{5}{100}\right)^{2n}\)\( \Large \frac{926.10}{800}= \left(\frac{21}{20}\right)^{2n}\)\( \Large\left(\frac{21}{20}\right)^{3}=\left(\frac{21}{20}\right)^{2n}\)2n=3n=\( \Large \frac{3}{2} \)
Required time=\( \Large \frac{3}{2}=1\frac{1}{2} \) years
Part of solved Simple and compound interest questions and answers : >> Aptitude >> Simple and compound interest
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