A sum of ₹12000 is invested for 1.5 years which will be compounded half yearly at a rate of 10%. Find the amount obtained.

₹13890

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₹13891.5

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₹13591

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₹14891.5

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Solution

The correct option is B
₹13891.5

In compound Interest A = $P (1 + \frac{R}{100})^{n}$

Given,

P = ₹12000

T = 1.5 years = 3 half-years

(∵ the interest is compounded half−yearly,so T =1.5×2)

R = 5% (∵ the interest is compounded half−yearly,so R = $\frac{10}{2}$ )

$A = 12000 \times [1 + \frac{10}{2 \times 100}]^{3}$
A = ₹13891.5

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A sum of ₹12000 is invested for 1.5 years which will be compounded half yearly at a rate of 10%. Find the amount obtained.

The correct option is B ₹13891.5 In compound Interest A = P(1+R100)n Given, P = ₹12000 T = 1.5 years = 3 half-years (∵ the interest is compounded half−yearly,so T =1.5×2) R = 5% (∵ the interest is compounded half−yearly,so R =102) A =12000×[1+102×100]3 A = ₹13891.5