The number of years taken for a sum of Rs 5,000 to become Rs 5,832 at a rate of 16% per annum compounded half yearly, will be: 

Options
a) 1.5 years
b) years
c) 2 years
d) 1 years

Solution

As per question
P = 5000
A = 5832
R = 16%
Rate half yearly (r) = = 8%
Number of Half Years =n

A =
5832 =
5832 =



n = 2
Number of Half Years =n =2
Number of year = 1 year

Ans : 1 year