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Find the time period and rate for each. A sum taken for one and half years at 8 percent per annum is compounded half yearly.

Find the time period and rate for each.

1.     A sum taken for  1\frac{1}{2} years at 8% per annum is compounded half yearly.

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S Sayak

Since the sum taken is compounded half yearly:

\\Since\ the\ sum\ taken\ is\ compounded\ half\ yearly:\\ Time\ period=2\times 1\frac{1}{2}\\ Time\ period=3\\ Rate=\frac{8}{2}=4\%

Time period = 3 half years

Rate = 4% per half year

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