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The compound interest on ₹ 10,000 in 2 years at 4% per annum, the interest being compounded half-yearly, is :
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- ₹ 636.80
- ₹ 824.32
- ₹ 912. 86
- ₹ 828. 82
Correct Option: B
We find interest on compounded half-yearly,
Here , P = ₹ 10000, r = 4 / 2 = 2%, n = 2 × 2 = 4 years
Using the given formula ,
| A = P |  | 1 + |  | n | |
| 100 |
| A = 10,000 | | 1 + | | 4 | |
| 100 |
| A = 10,000 | | | 4 | = 10824.3216 | |
| 50 |
∴ Compound Interest = Amount - Principal
Compound Interest = 10,824.3216 – 10,000 = ₹ 824.32
