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SSC Quantitative Aptitude Simple Interest Question Bank Simple and Compound Interest (II)

  • question_answer
    If the interest compounded half-yearly, then what is the amount on Rs. 16000 at the rate of compound interest of 10% for 2 yr?

    A) Rs. 19448

    B) Rs. 17243

    C) Rs. 19880

    D) Rs. 18973

    Correct Answer: A

    Solution :

    [a] \[\because \]P = Rs. 16000, r = 10% yearly = 5% half-yearly and       n = 2 yr = 4 half-years \[\therefore \]      \[A=P{{\left( 1+\frac{r}{100} \right)}^{n}}\]             \[=16000{{\left( 1+\frac{5}{100} \right)}^{4}}\]             = Rs. 2560,                   (approx.)


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