Find the compound interest on Rs. 10,000 in 2 years at 4% per annum, the interest being cmpounded half-yearly.
823
824.32
798.67
800
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.