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.
Answer & explanation
Correct answer: option 1
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,
