Sarthaks Test
0 votes
in Reasoning by (57.1k points)

Find the compound interest on Rs.1000 at the rate of 10% per annum for 18 months when interest is compounded half-yearly. 

(A) 157.625 

(B) 162.571 

(C) 152.654 

(D) None of these 

1 Answer

+1 vote
by (55.0k points)
selected by
Best answer

Correct option (A) 157.625   


Here, P = Rs. 1000, R = 10% per annum and, n = 18/12 years = 3/2 years.

Amount after 18 months

Hence, compound interest 

= Amount – Principal 

= Rs. 1157.625 – Rs. 1000 

= Rs. 157.625

Welcome to Sarthaks eConnect: A unique platform where students can interact with teachers/experts/students to get solutions to their queries. Students (upto class 10+2) preparing for All Government Exams, CBSE Board Exam, ICSE Board Exam, State Board Exam, JEE (Mains+Advance) and NEET can ask questions from any subject and get quick answers by subject teachers/ experts/mentors/students.