What will be the compound interest on a sum of Rs.500 for 2 years at 30% p.a., if the interest is compounded 8-monthly?
Answer & explanation
Correct answer: option 1
12 Months ⇒ 30%
8 Months ⇒ 20% = \(\frac{1}{5}\)
Principal : Amount
8 month 5 : 6
8 month 5 : 6
8 month 5 : 6
125 : 216 ⇒ 91 (C.I.)
↓×4 ↓×4
500 (given) 364 Ans.