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    Question

    If interest is compounded half-yearly, then find the

    compound interest on Rs. 8,000 at the rate of 20% per annum for 1 year.
    A 1750 Correct Answer Incorrect Answer
    B 1350 Correct Answer Incorrect Answer
    C 1496 Correct Answer Incorrect Answer
    D 1680 Correct Answer Incorrect Answer

    Solution

    Sum =8000, rate =20%yearly =10% half-year. T = 1 year =2 half year. Compound interest = 1st year -800 2nd year-800    80 Total =1680

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