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Question

Meena borrowed ₹ 40,000 at 10 % p.a simple interest. She immediately invested this money at 10 % p.a compounded half- yearly.Calculate Meena's gain in 18 months 



A

₹ 6305

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B

₹ 600

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C

₹ 305

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D

₹ 603

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Solution

The correct option is B

₹ 305


Given P = ₹ 40,000  r = 10 % and n = 32

S.I = 40,000×10×32×100
      = ₹ 6000

Amount in compound interest 
A = 40,000(1+102×100)3)  (∵ Interest is calculated half-yearly)
    = 40,000×21×21×2120×20×20   = ₹ 46,305
C.I = ₹ 46,305 - ₹4 0,000
      = ₹ 6305

Hence the gain is C.I - S.I = 6305 - 6000
                                          = ₹ 305


Mathematics

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