Question

If ₹ 12,000 is invested for $1\frac{1}{2}$ years at 10% per annum, find the amount received after $1\frac{1}{2}$ years.

• A. Rs.13,888.5
• B. Rs.14,891.7
• C. Rs.13,891.5
• D. Rs.13,591.8

Answer 1

The correct option is C Rs.13,891.5

Here, Principal (P) = ₹ 12000

Rate of interest (R) = 10% per annum
Rate of interest = 5% half yearly
Time (n) = $\frac{3}{2}$ years
= 3 half years.
Amount (A)
$=P{(1+\frac{R}{100})}^n=12000{(1+\frac{5}{100})}^3=12000{(1+\frac{1}{20})}^3$
$=12000{\left(\frac{21}{20}\right)}^3=12000\times \frac{21}{20}\times \frac{21}{20}\times \frac{21}{20}$
= ₹ 13,891.50