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Q.

If principal = ₹ 1,00,000. rate of interest = 35% compounded half yearly. What is


interest for 6 months?


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a

₹ 2000

b

₹ 500

c

₹ 17500

d

₹ 50000 

answer is C.

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Detailed Solution

Given, principal = ₹ 100000 with rate = 35%.
Compound interest for half year is given as P(1 + r200)2t - P where, P is the principal amount, r is the interest rate, and t is the time.
= 100000(1 + 35200)2(12) - 100000
= 100000(1.175) - 100000
= 117500 - 100000
= ₹ 17500
So, the interest = ₹ 17500.
Hence, option 3 is correct.
 
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