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Question

Tick the correct answer in each of the following:

The compound interest on Rs 6250 at 8% per annum for 1 year, compounded half yearly, is

(a) Rs 500 (b) Rs 510 (c) Rs 550 (d) Rs 512.50


Solution

Principal (P) = Rs.~6250Rate (R) = 8% p.a. or 4% half yearlyPeriod (n) = 1 year or 2 half years Amount (A) =P (1+R100)n=Rs. 6250 (1+4100)2=Rs. 6250×2625×2625=Rs. 6760= C.I.= A - P = Rs. 6760 - 6250=Rs. 510                                   (b)


Mathematics
Secondary School Mathematics VIII
Standard VIII

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