What is the compound interest on a sum of ₹37500 for \(1\frac{1}{3}\)year at a rate of 12% p.a. If the interest is compounded 8-monthly?

₹6440 ₹6240 ₹6420 ₹6448

₹6240

\(1\frac{1}{3}\) year = 16 months, and Rate of Interest = 12% per annum = 8% per 8 months 8% = \(\frac{2}{25}\)  Now, ATQ, Principal = 625R = 37500 1R = 60 C.I. = 104R = 104 × 60 = Rs.6240