math
posted by Anonymous .
A person invested 1100 rs in a company at compound interest compounded semiannually.he received rs 1331 after one year.rate% is?

math 
Reiny
let the semiannual rate be i
amount after 1 year = 1100(1 + i)^2
interest = 1100(1 + i)^2  1100 = 1331
1100(1 + i)^2 = 2431
(1+i)^2 = 2.21
1+i = √2.21 = appr 1.4866
i = .4866
WOW, annual rate is .4866(2) = .9732 or 97% ?????
check: 1100(1.4866..)^2 = 2430.98
interest = 1330.98 or 1331 rs
Seems unreasonable high to me, do you have a typo ?? 
math 
Anonymous
answer rate 20%

math 
Reiny
poorly worded question,
so the amount is 1331 rs, then
1100(1+i)^2 = 1331
(1+i)^2 = 1.21
1+i = √1.21 = 1.1
i = .1 or 10%
so the annual rate is 20%
Respond to this Question
Similar Questions

maths compound interest
find the compund interest on $2500 for one year at 4% per annum compounded halfyearly. which of these is correct? 
Compound Interest : Future Value and Present Value
Payments of $1800 and $2400 weere made on a $10,000 variablerate loan 18 and 30 months after the date of the loan. The interest rate was 11.5% compounded semiannually for the first two years and 10.74% compounded monthly thereafter. … 
Compound Interest
A bank offers a rate of 5.3% compounded semiannually on its four year GICs(Guaranteed Investment Certificates). What monthly and annually compounded rates should it quote in order to have the same effective interest rate at all three … 
math & finance
A bank offers a rate of 5.3% compounded semiannually on its four year GICs(Guaranteed Investment Certificates). What monthly and annually compounded rates should it quote in order to have the same effective interest rate at all three … 
compounded interest
A bank offers a rate of 5.3% compounded semiannually on its four year GICs(Guaranteed Investment Certificates). What monthly and annually compounded rates should it quote in order to have the same effective interest rate at all three … 
Compound Interest
Payments of $1,800 and $2,400 were made on a $10,000 variablerate loan 18 and 30 months after the date of the loan. The interest rate was 11.5% compounded semiannually for the first two years and 10.74% compounded monthy thereafter. … 
Compound interest
Hello My teacher skipped over this and I have no clue how to do this or the equations. Help would be wonderful thank you If 6000 dollars is invested in a bank account at an interest rate of 10 per cent per year, find the amount in … 
math(compund interest )
10.On 16 April 1990, $5000 was invested at 6% compounded semi annually.Find the amount accumulated on 16 October 1993 if the rate was charged to 8% compounded quarterly beginning 16 april 1992. semi annualy compounding= (2 times in … 
Math: Compounded Interest
A principal of $200 is invested at 5% interest rate annually. Determine the future value in 3 months' time if compounded: (a) Semiannually (b) Quarterly 
PRECALCULUS
Find the accumulated value of a $5000 investment which is invested for 8 years at an interest rate of 12% compounded: (a) annually (b) semiannually (c) quarterly (d) monthly (e) continuou