Q.

Find the compound interest on an amount of Rs 35000 for =112 years compound semi-annually at the rate of 12% p.a.

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a

6669.54

b

6698.78

c

6678.66

d

6685.56 

answer is D.

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Detailed Solution

We have principle (P)=35000
And rate of interest(R) =12%
And here compounded semi-annually it means time will be multiplied with two so ,
Time(n)Question Image
And rate will be divided by 2 ie;
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So find the compound interest we can use formula for the amount here and we have the formula ,
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Substituting the value of n,R and p we get,
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After equating with principle value we get,
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Compound interest = amount – principal
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The compound interest is 6685.56
So, option 4 is correct.
 
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Find the compound interest on an amount of Rs 35000 for =112 years compound semi-annually at the rate of 12% p.a.