ABC26GN4123 · Compound Interest
Subject: General Aptitude · Chapter: Compound Interest · Exam: 2000 · Marks: · Difficulty:
Find the compound interest on ` 10,000 in 2 years at 4% per annum, the interest being compounded half- yearly.
Answer
Explanation
Principal = ` 10000; Rate = 2% per half-year; Time = 2 years = 4 half-years. 2 4 51 51 51 51 ∴ Amount = ` 10000 × 1 + = ` 10000 × × × × = ` 10824.32. 100 50 50 50 50 ∴ C.I. = ` (10824.32 – 10000) = ` 824.32.
Explanation as extracted from the printed page; notation may be imperfect.
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