If the interest is compounded half-yearly, then what will be the compound interest (in Rs) on a sum of Rs 10000 for 1 year at the rate of 10% per annum?
Principal sum = Rs. 10,000
Rate of interest = 10% and time period = 1 year
Compound interest compounded half yearly = $$P[(1+\frac{R}{200})^{2T}-1]$$
= $$10,000[(1+\frac{10}{200})^2-1]$$
= $$10,000[(\frac{21}{20})^2-1]$$
= $$10,000(\frac{441-400}{400})$$
= $$10,000\times\frac{41}{400}$$
= $$25\times41=Rs.$$ $$1025$$
=> Ans - (D)
Create a FREE account and get:
Detailed syllabus & Topic-wise Weightage
By proceeding you agree to create your account
Free CAT Syllabus PDF will be sent to your email address soon !!!
