An amount of Rs.1500 is invested at 10% per annum for one year. If the interest is compounded half-yearly, then what amount will be received at the end of the year?
(A)
1652.20
(B)
1642.50
(C)
1652.7
(D)
1653.75
Answer: (D)
Explanation:
A= 15000[1+(10/2)/100]2
= 1500[105/100]2
= 1500 X 1.1025
= 1653.75
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