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At what rate of compound interest per an...

At what rate of compound interest per annum a sum of money Rs. 32000 will amount Rs. 39753.50 in `1 1/2` years. When interest is compound hal -yearly?

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Verified by Experts

Let the required rate `=r%`
As per question Rs. 32000`(1+(r/2)/100)^(2xx3/2)=RLs. 39753.50`
or `(1+r/200)^(3)=39753.50/32000` or `(1+r/200)^(3)=397535.320000`
or `(1+r/100)^(3)=(43/40)^(3)`
`implies1+r/200=43/40` or `r/200=43/40-1`
or `r/200=3/40` or `r=15`
Hence the required rate `=15%`
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