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Territorial Army Paper I : Official Practice Test Paper - 5

- \(1\frac{1}{2}\) years
- \(1\frac{2}{3}\) years
- \(2\frac{1}{3}\) years
- \(2\frac{1}{2}\) years

Option 1 : \(1\frac{1}{2}\) years

Ace your Interest preparations for Compound Interest with us and master Quantitative Aptitude for your exams. Learn today!

**Given**

In how many will a sum of Rs.800 at 10% per annum compound interest, compounded semi annually becomes Rs.926.10

**Concept used**

Compound interst

**Calculation**

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

interest is compounded semi annually

R = r/2%

R = 10/2

R = 5%

Time = 2t

926.10/800 = (1 + 5/100)^{n}

(21/20)^{3} = (21/20)^{n}

Comparing on power

n = 3

Required Time

n/2 = 3/2 = \(1\frac{1}{2}\)years

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