A sum of money is invested at 20 compound interest compounded annually It would fetch Rs 723 more if...........

Quantitative Aptitude (CGL) Compound Interest

A sum of money is invested at 20% compound interest (compounded annually). It would fetch Rs. 723 more if interest is compounded half-yearly. The sum is

Rs.72,300

Rs.30,000

Rs.20,000

Rs.7,500

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Explanation:

Let Principal = 400
For 1 year at 20 % rate
The interest is = 400×20/100=80
If compounded half yearly then,
r=20/2=10
T = 2 (6 month)

(84−80)→723
4→723
1→723/4
400=723/4×400
=72300(sum)