Sam invested Rs. 15000 @ 10% per annum for one year. If the interest is compounded half-yearly, then the amount received by Sam at the end of the year will be?
Options:
A . Rs. 16,500
B . Rs. 16,525.50
C . Rs. 16,537.50
D . Rs. 18,150
Answer: Option C
P = Rs. 15000; R = 10% p.a. = 5% per half-year; T = 1 year = 2 half-year Amount = [15000 * (1 + 5/100)2]= (15000 * 21/20 * 21/20) = Rs. 16537.50
Submit Comment/FeedBack