Sam invested ₹ 15000 at 10 % per annum for one year. If interest is compounded halfyearly, then am

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6.Interest

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Sam invested ₹ $15000$ at $10 \%$ per annum for one year. If the interest is compounded halfyearly, then the amount (In ₹) received by Sam at the end of the year will be

A

$16500$

B

$16525.50$

C

$16537.50$

D

$18150$

Solution

$A=P\left(1+\frac{R}{100}\right)^{N}$

$=15000\left(1+\frac{10}{200}\right)^{2}=15000\left(1+\frac{5}{100}\right)^{2}$

$=15000 \times\left(\frac{21}{20}\right)^{2}=\frac{15000 \times 441}{400}$

$=37.5 \times 441=₹ 16537.50$

Standard 13

Quantitative Aptitude

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