If principal = ₹ 1,00,000. rate of interest = 20% compounded half yearly. What is

interest for 6 months?

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₹ 2000

₹ 500

₹ 10000

₹ 50000

answer is C.

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Detailed Solution

Given, principal = ₹ 100000 with rate = 20%.
Compound interest for half year is given as

P (1 + \frac{r}{200})^{2 t} - P

where, P is the principal amount, r is the interest rate, and t is the time.

= 100000 (1 + \frac{20}{200})^{2 (\frac{1}{2})} - 100000

= 100000 (1.1) - 100000

= 110000 - 100000

= ₹ 10000
So, the interest = ₹ 10000.
Hence, option 3 is correct.

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