Question : Rs. 6000 is lent at the rate of 20% per annum on compound interest (compounded half yearly). What will be the compound interest of 18 months?
Option 1: Rs. 1825
Option 2: Rs. 1986
Option 3: Rs. 1876
Option 4: Rs. 2036
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Correct Answer: Rs. 1986
Solution :
Principal,
Time,
Rate,
Amount =
=
=
= Rs. 7986
Compound Interest earned = Rs. 7986 – Rs. 6000 = Rs. 1986
Hence, the correct answer is Rs. 1986.
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