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What sum will amount to Rs. 4913 in 18 months, if the rate of interest is $1212 %$ per annum, compounded half-yearly?

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Rs 4081

Rs 4721

Rs 4562

Rs 4096.

answer is D.

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Detailed Solution

Given,
Amount, A = Rs 4913
Rate, R = 12

\frac{1}{2}

% p. a. compounded half-yearly
Time, T = 18 months
We know that 6 months = 1 half year

⇒ T = 3 × 6 months ⇒ T = 3 half years

The formula to calculate the amount is given by,

A = P 1 + R 100 T

⇒ 4913 = P 1 + 12.5 200 3 ⇒ 4913 = P 1.0625 3 ⇒ P = 4913 1.0625 3 ⇒ P = Rs 4096

Thus, sum of Rs 4096 will turn to Rs. 4913 in 18 months if the rate of interest is 12 1/2 % per annum, compounded half-yearly.
Hence, the correct option is 4.

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