Question : Find the amount of a sum of Rs. 7,500 invested on compound interest at 8% p.a. for 1.5 years when the interest is compounded half-yearly.
Option 1: Rs. 8,436.48
Option 2: Rs. 8,736.48
Option 3: Rs. 8,657.48
Option 4: Rs. 8,564.48

Question

Question : Find the amount of a sum of Rs. 7,500 invested on compound interest at 8% p.a. for 1.5 years when the interest is compounded half-yearly.

Option 1: Rs. 8,436.48

Option 2: Rs. 8,736.48

Option 3: Rs. 8,657.48

Option 4: Rs. 8,564.48

Team Careers360 · Accepted Answer

Correct Answer: Rs. 8,436.48

Solution : Given: Principal($P$) = Rs. 7500
Rate($R$) = 8% compounded half yearly = 4% annually
Time 1.5 years, half-yearly($T$) = 3 years
We know that,
$ A= P(1+\frac{R}{100})^{T}$
$= 7500(1+\frac{4}{100})^{3}$
$= 7500 imes\frac{26}{25} imes\frac{26}{25} imes\frac{26}{25}$
$=8436.48$
Hence, the correct answer is Rs. 8,436.48.

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Question : Find the amount of a sum of Rs. 7,500 invested on compound interest at 8% p.a. for 1.5 years when the interest is compounded half-yearly.Option 1: Rs. 8,436.48Option 2: Rs. 8,736.48Option 3: Rs. 8,657.48Option 4: Rs. 8,564.48

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Question : Find the amount of a sum of Rs. 7,500 invested on compound interest at 8% p.a. for 1.5 years when the interest is compounded half-yearly.
Option 1: Rs. 8,436.48
Option 2: Rs. 8,736.48
Option 3: Rs. 8,657.48
Option 4: Rs. 8,564.48