Find the compound interest on Rs 10 000 in 2 years at 4 per annum the interest being compounded half......

Quant ( MASTER) Compound Interest Add to Study Deck

Find the compound interest on Rs. 10,000 in 2 years at 4% per annum, the interest being compounded half-yearly.

830.45

826.50

824.32

830.25

Explanation:

Principal = Rs. 10000; Rate = 2% per half-year; Time = 2 years = 4 half-years.
Amount = Rs. 10824.32.

Rs.[10000*(1+2/100)⁴] = Rs.[10000*51/50*51/50*51/50*51/50]

C.I. = Rs. (10824.32 - 10000) = Rs. 824.32.

Hence, option 3 is the correct answer.

Submit Error