What is the compound interest on Rs. 50000 for 1.5 years at 4% per annum, compounded half-yearly?

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Half-yearly rate = 4/2 = 2%. Time = 1.5 years = 3 half-years. Amount = 50000 * (1 + 2/100)^3 = 50000 * (1.02)^3 = 50000 * 1.061208 = Rs. 53060.40. Compound Interest = 53060.40 - 50000 = Rs. 3060.40.

What is the compound interest on Rs. 50000 for 1.5 years at 4% per annum, compounded half-yearly? MCQ with Answer and Explanation

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