Question

calculate the interest earned and the amount due,if a sum of rs 15000 is invested for 1 and half year at 8% p.a compound interest, interest being payable semi annually​

Answer 1

Answer:

Correct option is

B

Rs.2496

⇒  P=Rs.15000,T=1year=2 and R=16%

Req=8% Since, semi-annually compounded.

Teq=2.T=2. Since, semi-annually compounded.

⇒  A=P(1+100Req)Teq

⇒  A=15000×(1+1008)2

⇒  A=15000×(2527)2

∴    A=Rs.17496

∴  C.I.=A−P=Rs. 17496−Rs.15000=Rs.2496.