Find the amount after one and a half year compounded semi annually at 20% per annum and principal is Rs. 20,000.
Find the amount after one and a half year compounded semi annually at 20% per annum and principal is Rs. 20,000.
ARs. 26,400
BRs. 28,800
CRs. 27,620
DRs. 26,620
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correct answer is: Rs. 26,620
Explanation: To find the amount after one and a half years with semi-annual compounding at 20% per annum, we use the compound interest formula:
Where:
- P = ₹20,000
- r = 20% = 0.2
- n = 2 (compounded semi-annually)
- t = 1.5 years Plugging in the values: A ==
= 20,000(1.331)
= ₹26,620
- OPTION a (Rs. 26,400): Incorrect, as it does not match the calculated amount.
- OPTION b (Rs. 28,800): Incorrect, as it is higher than the calculated amount.
- OPTION c (Rs. 27,620): Incorrect, as it does not match the calculated amount.
- OPTION d (Rs. 26,620): Correct, as it matches the calculated amount.
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