Find the compound interest on ₹ 1000 at the rate of 20% per annum for 18 months when interest is compounded half-yearly.

Find the compound interest on ₹ 1000 at the rate of 20% per annum for 18 months when interest is compounded half-yearly.

Find the compound interest on ₹ 1000 at the rate of 20% per annum for 18 months when interest is compounded half-yearly.

  • A. ₹ 331 
  • B. ₹ 1331 
  • C. ₹ 320 
  • D. ₹ 325 
 

The correct answer is option A. 331. Can you explain this answer in the comments?


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Find the compound interest on ₹ 1000 at the rate of 20% per annum for 18 months when interest is compounded half-yearly.




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About the Author

Mr. Ashutosh Nautiyal is a student who is pursuing his post-graduation (MBA in Infrastructure Development and Management) from SCMHRD, Pune. He has done his B.Tech in Civil Engineering from BTKIT, Dwarahat and his schooling from Omkarananda Saraswat…

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