Find the compound interest on Rs. 10,000 for 1.5 years at 10% per annum, compounded half-yearly.
ARs. 1,525.00
BRs. 1,576.25
CRs. 1,600.00
DRs. 1,625.50
Explanation
Half-yearly rate r = 10/2 = 5%. Time periods n = 1.5 * 2 = 3. Amount = 10000 * (1.05)^3 = 10000 * 1.157625 = Rs. 11,576.25. CI = 11576.25 – 10000 = Rs. 1,576.25.
Exam Relevance
- Topic: Interest
- Subtopic: Compound Interest
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