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

Question

A. 823

B. 824.32

C. 798.67

D. 800

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Correct Answer :

B. 824.32

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.

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