At what rate percent per annum will ₹7200 amount to ₹7938 in one year, if interest is compounded half yearly?

10

Interest rate is compounded half yearly , So t = 2

We know,

Amount = Principal × ( 1 + $\frac{rate }{100}$ )^t

7938 = 7200 × ( 1 + $\frac{rate }{100}$ )²

$\frac{441 }{400}$ =  ( 1 + $\frac{rate }{100}$ )²

1 + $\frac{rate }{100}$ = $\frac{21 }{20}$ 

$\frac{rate }{100}$ = $\frac{1 }{20}$

Rate = 5% ( if Interest rate is compounded half yearly )

So , Interest rate per annum = 2 × 5% = 10%