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Find the interest earned in the first year on Rs.400 at 20%p.a. compound interest, the interest being compounded half yearly.
- Option 1)
Rs.59
- Option 2)
Rs.72
- Option 3)
Rs.84
- Option 4)
Rs.144
- Option 5)
Rs.42
Find the interest earned in the first year on Rs.400 at 20%p.a. compound interest, the interest being compounded half yearly.
- Option 1)
Rs.59
- Option 2)
Rs.72
- Option 3)
Rs.84
- Option 4)
Rs.144
- Option 5)
Rs.42
Answers (1)
Because the interest compound half yearly
When interest calculated half yearly rate will be half and time will be double.
P = 400, R = 20 % P.A , T = 1 year
= 40 + 40 + 4
= 84
View full answer
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