CameraIcon
CameraIcon
SearchIcon
MyQuestionIcon
MyQuestionIcon
Question

Find the compound interest for Rs. 7000 for a period 3 years, compounded semi-annually at the rate of 4% per six months.

A
1857.23 Rs.
Right on! Give the BNAT exam to get a 100% scholarship for BYJUS courses
B
2857.23 Rs.
No worries! We‘ve got your back. Try BYJU‘S free classes today!
C
3857.23 Rs.
No worries! We‘ve got your back. Try BYJU‘S free classes today!
D
14457.23 Rs.
No worries! We‘ve got your back. Try BYJU‘S free classes today!
Open in App
Solution

The correct option is C 1857.23 Rs.
Principal =7000, R =4%, n =2 ( semiannually compounded),
t =3 years
Using the formula, we have
A=P(1+R100)n.t
A=7000(1+4100)2×3
A =7000×(1.04)6
A =7000×1.26531902
Amount =8857.23
Compound interest = Amount Principal
=8857.237000
Compound interest =1857.23 Rs.

flag
Suggest Corrections
thumbs-up
0
Join BYJU'S Learning Program
similar_icon
Related Videos
thumbnail
lock
Rate Compounded Annually and Half Yearly
MATHEMATICS
Watch in App
Join BYJU'S Learning Program
CrossIcon