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UP TGT Mathematics Commercial Mathematics Test Series - Part 3

A sum of Rs. 6,000 is deposited at 10% p.a. compound interest. If the interest is compounded half-yearly, find the total...

Type: MCQ • Marks: 1
A sum of Rs. 6,000 is deposited at 10% p.a. compound interest. If the interest is compounded half-yearly, find the total interest earned in 1.5 years.
Options
A. 1) Rs. 900.00
B. 2) Rs. 960.50
C. 3) Rs. 980.00
D. 4) Rs. 945.75
Explanation
r = 5%, n = 3. Amount = 6000 * (1.05)^3 = 6000 * 1.157625 = Rs. 6,945.75. CI = 6945.75 - 6000 = Rs. 945.75.
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