Practicing Success

Target Exam

CUET

Subject

General Test

Chapter

Numerical Ability

Topic

Compound Interest

Question:

The simple interest on a certain sum of money for 1\(\frac{1 }{2}\) year at 10% per annum is Rs.3600.Find the compound interest on the same sum at the same rate after 1\(\frac{1 }{2}\) year when interest being compounded semiannually.

Options:

Rs. 3783

Rs. 3777

Rs. 3780

Rs. 3781

Correct Answer:

Rs. 3783

Explanation:

ATQ,

Simple interest for 1.5 year = Rs.3600,

Therefore, S.I. of each 6m = Rs.1200

Rate of Interest per 6 months = 5%

Now,