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    Question

    Find the compound interest on Rs. 8500 in 2 years at 8%

    per annum, the interest being compounded half-yearly.
    A Rs. 1443.79 Correct Answer Incorrect Answer
    B Rs. 1462.29 Correct Answer Incorrect Answer
    C Rs. 1455.19 Correct Answer Incorrect Answer
    D Rs. 1478.39 Correct Answer Incorrect Answer
    E None of these Correct Answer Incorrect Answer

    Solution

    Interest is compounded half-yearly, the formula is: Amount = P [1 + (R/2)/100]2n According to the question, => Amount = Rs. [8500 × (1 + 4/100)4] => A = (8500 × 104/100 × 104/100 × 104/100 × 104/100) => A = Rs. 9943.79 Therefore, C.I = Rs. (9943.79 - 8500) = Rs. 1443.79

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