What is the compound interest on Rs. 40000 for 1 year at 20% per annum, compounded half-yearly?

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Half-yearly rate = 20/2 = 10%. Time = 2 half-years. Amount = 40000 * (1 + 10/100)^2 = 40000 * 1.21 = Rs. 48400. Compound Interest = 48400 - 40000 = Rs. 8400.

What is the compound interest on Rs. 40000 for 1 year at 20% per annum, compounded half-yearly? MCQ with Answer and Explanation

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