Find compound interest

Question

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

Options:

A . Rs. 810. 50

B . Rs. 820.50

C . Rs. 824.32

D . Rs. 830.24

Answer: Option C

principal = Rs. 10000, Rate = 2% per half year , Time = 2 years = 4 half years

`:.` Amount = Rs.` [10000 xx (1 + 2/100)^4]`

= Rs. ` (10000 xx 51/50 xx 51/50 xx 51/50 xx 51/50)`

= Rs. 10824.32.

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

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