Compound Interest on Rs. 32000 at 20 % per annum for 1 year , compounded half yearly (In Rs. )

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6.Interest

easy

Find the compound Interest on $Rs. 32000$ at $20 \%$ per annum for $1$ $year$, compounded half yearly (In $Rs.$)

A

$6320$

B

$6720$

C

$6400$

D

$6500$

Solution

Because the amount is compounded half-yearly

So, year $=$ year $\times 2,$ rate $=\frac{\text { rate }}{2}$

$\therefore$ year $=2$ years, rate $=10 \%$

$\Rightarrow C I=P\left[\left(1+\frac{R}{100}\right)^{n}-1\right]=32000\left[\left(1+\frac{10}{100}\right)^{2}-1\right]=R s \cdot 6720$

Standard 13

Quantitative Aptitude

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