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Find the interest earned

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)
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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

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