Find the compound interest on ₹10000 i

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Target Exam

CUET

Subject

General Test

Chapter

Numerical Ability

Topic

Compound Interest

Question:

Find the compound interest on ₹10000 in 1\(\frac{1}{2}\)% years at 20% per annum, when the interest being compound half yearly.

Options:

₹3310

₹3200

₹3260

₹3420

Correct Answer:

₹3310

Explanation:

Rate of Interest = 20% p.a. = 10% per 6 months.

1.5 years = 18 months

Now,