6. compounded semi-annually. I borrowed a sum of 12 lakh from a bank to build a flat at an interest rate of 10% per annum for 1.5 years. What is the compound interest, if the interest is calculated half-yearly?
7. Find the compound interest on 5000 at the rate of 10% p.a. for 18 months, when the interestis 3 compounded half-yearly. A
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Answer:
Correct option is
C
Rs. 615
The compound interest on Rs. 6000 at 10% per annum for one year ,compounded half-yearly is =6000×(1+
2×100
100
)
2
−6000
=6000×
20
21
×
20
21
−6000
=6615−6000=615.
So the compound interest is Rs. 615.
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