Calculate the amount of Rs 37 500 8 per annum compounded half yearly for one and a half years ........

Quantitative Aptitiude (CLAT) Compound Interest

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Calculate the amount of Rs 37,500/- @ 8% per annum compounded half-yearly for one and a half years.

Rs 42,182.40

Rs 42,000

Rs 42,120

Rs 42,812.40

Explanation:

Formula is P [1 + (r/2) / 100] 2n
Since the amount is compounded half-yearly rate of interest becomes r/2 and due to the same reason, n becomes 2n.
r/2 = 8/2 = 4
2n = 3
Substituting the values in the above equation we get, 37,500 [1 + 4/100]3
= Rs 42,182.40