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Calculate the amount on Rs. 62,500 for $112$ years at 8% per annum compounded half yearly.

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Rs 70300

Rs 70304

Rs 70310

Rs 70312

answer is B.

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Detailed Solution

Given that:
Principal

(p) = R s .62, 500

, Rate = 8% per annum, Number of years

= 112

.
Since, rate compounded half yearly then,

⇒ R = 82 %

per half year

⇒ R = 4 %

per half year
Time (n) =

112

years

\Rightarrow T = \frac{3}{2}

\Rightarrow T = \frac{3}{2} \times 2

\Rightarrow T = 3

half - year
Then the amount,

A m o u n t = p r i n c i p a l 1 + R 100 T i m e

⇒ A m o u n t = 62500 (1 + (4100) 3]

⇒ A m o u n t = 62500 × 2625 × 2625 × 2625

⇒ A m o u n t = R s .70304

The amount is Rs 70304.
Therefore, the answer is option (2).

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