Question

Find the compound interest on Rs. $6000$ at $10\%$ per annum for one year ,compounded half-yearly?

• A. Rs. $1260$
• B. Rs. $630$
• C. Rs. $615$
• D. Rs. $600$

Answer 1

The correct option is C Rs. $615$

The compound interest on Rs. $6000$ at $10\%$ per annum for one year ,compounded half-yearly is $=6000\times {(1+\frac{100}{2\times 100})}^2-6000$

$=6000\times \frac{21}{20}\times \frac{21}{20}-6000$

$=6615-6000=615$.

So the compound interest is Rs. $615$.