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Question

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



Options:
A .  824.32
B .  824.52
C .  825.32
D .  825.52
Answer: Option A


Principal = Rs. 10000; Rate = 2% per half-year; Time = 2 years = 4 half-years.
Amount = Rs [10000 * (1+(2/100))^4] = Rs(10000 * (51/50) * (51/50) * (51/50) * (51/50))
= Rs. 10824.32
C.I. = Rs. (10824.32 - 10000) = Rs. 824.32.



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