₹4,000 is given at 5% per annum for one year and interest is compounded half yearly. ₹2,000 is given at 40% per annum compounded quarterly for 1 year. The total interest received is nearest to:

For the amount ₹4,000

Rate of interest = 5% per annum = $$\frac{5}{2}$$ half yearly

Time n = 1 year = 2 half years

Interest on the amount ₹4,000 = $$4000\left(1+\frac{5}{2\times100}\right)^2-4000$$

For the amount ₹2,000

Rate of interest = 40% per annum = 10% quarterly

Time n = 1 year = 4 quarters

Interest on the amount ₹2,000 = $$2000\left(1+\frac{10}{100}\right)^4-2000$$

$$\therefore\ $$Total interest = $$4000\left(1+\frac{5}{2\times100}\right)^2-4000+2000\left(1+\frac{10}{100}\right)^4-2000$$

$$=4000\left(1+\frac{1}{40}\right)^2+2000\left(1+\frac{1}{10}\right)^4-6000$$

$$=4000\left(\frac{41}{40}\right)^2+2000\left(\frac{11}{10}\right)^4-6000$$

$$=4202.5+2928.2-6000$$

$$=$$ ₹1,130.70

Hence, the correct answer is Option C