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Q: Find the compound interest on Rs. 2000 at 5% per annum payable half yearly for 1 ½ years?
A. Rs.151.80 B. Rs. 153.78
C. Rs. 315.25 D. Rs. 75.50

Answer and Explanation

Answer:Rs. 153.78

Explanation:
n = 1 ½ years = 3 half years
R= 5% per annum = 2.5% per half year
A = 2000 ( 1 + 2.5/100)3 = 2153.78
∴ CI= A – P = 2153.78 - 2000 = Rs. 153.78

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