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Class 8 - (Math )
Applied mathematics - Simple interest, Compound interest
What is the compound interest on a principal of ₹ 12,000 at 10% for 1.5 years? (Half-yearly charging of interest)
a :
₹ 1,800
b :
₹ 1,891.50
c :
₹ 1,900
d :
₹ 1,860.50
Explanation :
Rate = 5%, Time = 3. Ras = 12000(1.05)³ = 13891.5. Interest = Rs.1891.50.