Compound interest (In ₹) on ₹ 6250 at 12 % per annum for 1 year, compounded half-yearly is

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6.Interest

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The compound interest (In ₹) on ₹ $6250$ at $12 \%$ per annum for $1$ year, compounded half-yearly is

A

$772.50$

B

$772$

C

$672.50$

D

$672$

Solution

(a) $\quad R=\frac{12}{2} \%=6 \%$

$T =1 \times 2=2$ half-yearly

Interest $=6250\left[\left(1+\frac{6}{100}\right)^{2}-1\right]$

$=6250\left[\frac{(106)^{2}-(100)^{2}}{10000}\right]$

$=6250 \times(106+100)(160-100)$

$=6250 \times \frac{(206 \times 6)}{10000}=\frac{6250 \times 1236}{10000}=₹ 772.50$

Standard 13

Quantitative Aptitude

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