Multiple choice

Calculate compound interest for Rs $15,000$ for $4$ year at $16$% compounded semi -annually.

  1. $12763$
  2. $11159$
  3. $10159$
  4. $9159$
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A Correct answer
AI explanation

For semi-annual compounding over 4 years, we use the formula amount equals principal times (1 plus rate divided by 200) raised to the power of 2n, giving 15000 times (1 plus 0.08) raised to the power of 8. The calculated total amount is 15000 times 1.8509 or Rs. 27763.5, and subtracting the principal of 15000 results in a compound interest of Rs. 12763.

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