Question 36
What will be the compound interest on Rs 30,000 at 10% per annum for 1.5 years, when interest is compounded half-yearly?
Half-yearly rate = 5%. Time = 3 half-years. Effective CI = 15.7625%. Interest = 30000 * 15.7625% = Rs 4,728.75.
✓ Correct Answer: Option B.