#### Sudarshan invested ₹ 60000 in a finance company and received ₹ 79860 after 1 ½ years. Find the rate of interest per annum compounded half-yearly.

**Solution:**

It is given that

Principal (P) = ₹ 60000

Amount (A) = ₹ 79860

Period (n) = 1 ½ years = 3 half-years

We know that

A/P = (1 + r/100)^{n}

Substituting the values

79860/60000 = (1 + r/100)^{3}

By further calculation

(1 + r/100)^{3} = 1331/1000 = (11/10)^{3}

We get

1 + r/100 = 11/10

r/100 = 11/10 – 1 = 1/10

By cross multiplication

r = 1/10 × 100 = 10% half-yearly

r = 10 × 2 = 20% p.a.

Therefore, the rate of interest per annum compounded half-yearly is 20%.

**More Solutions:**

- Find the population of the town at the end of two years.
- The present population of a town is 15625.
- The population of a city increase each year by 4%.
- The cost of a refrigerator is ₹ 9000.
- Dinesh purchased a scooter for ₹ 24000.
- What was the yearly produce of wheat two years ago?
- what was its value three years ago?
- Ahmed purchased an old scooter for ₹ 16000.
- Find the annual rate of growth of production of cars.