Quantitative Aptitude Ques 2179
Question: What will be the compound interest accrued on an amount of Rs. 10000 at the rate of 20% per annum in two years if the interest is compounded half-yearly?
Options:
A) Rs. 4400
B) Rs. 4600
C) Rs. 4641
D) Rs. 4680
E) None of these
Show Answer
Answer:
Correct Answer: C
Solution:
- Interest is compounded half - yearly.
$ \therefore $ R = 20% per annum = 10% half-year T = 2 yr = 4 half - year
$ \therefore $ $ CI=P[ {{( 1+\frac{R}{100} )}^{T}}-1 ] $ $ =1000[ {{( 1+\frac{10}{100} )}^{4}}-1 ] $ $ =1000[ {{( \frac{11}{10} )}^{4}}-1 ] $ $ =1000[ ( \frac{121}{100}+1 )( \frac{121}{100}-1 ) ] $ $ =1000\times \frac{221}{100}\times \frac{21}{100}=Rs.,4641 $
BETA
