1.

A sum of Rs. 4000 was invested at a rate of 22% for 1.5 years compounded half yearly. Find the compound interest. 1. Rs. 1540.62. Rs. 1470.53. Rs. 1410.54. Rs. 1370.5

Answer» Correct Answer - Option 2 : Rs. 1470.5

Given:

Sum = Rs. 4000

Rate = 22% compounded half yearly

Time = 1.5 years

Formula:

If the interest is compounded half yearly, the rate of interest will be halved and time will be doubled.

CI = P [1 + (R/100)]n – P

Calculation:

CI = P [1 + (R/100)]n – P

CI = 4000 [1 + (11/100)]3 – 4000

⇒ 5470.52 – 4000 = 1470.5

∴ The compound interest is Rs. 1470.5



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