In what time will Rs 64 000 amount to Rs 68921 at 5 per annum interest being compounded half yearly ........

Quantitative Aptitude (PCS) Compound Interest

In what time will Rs. 64,000 amount to Rs.68921 at 5% per annum interest being compounded half yearly?

3 years

2 years

2(1/2) years

1(1/2) years

R = 2.5%, A = 68921 , P = 64000 and t= 2n
A/P = [1+(R/100)]^2n
68921/64000 = [1+(2.5/100)]^2n
(41/40)^3 = (41/40)^2n
2n = 3
n=3/2 =1(1/2) years

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