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The compound interest on Rupees 1,60,000 for 2 years at 10% per annum, compounded semi-annually, is:
ARupees 34,400
BRupees 30,000
CRupees 34,480
DRupees 34,481
Answer & Solution
Correct answer: D. Rupees 34,481
1. Semi-annual rate = 5%, number of periods = 4.
2. Amount = 160000 x (1.05)^4 = 160000 x 1.21550625 = 194481.
3. CI = 194481 - 160000 = 34481.
_Source: RRB Group D CEN-02/2018 PYQ, Q.47._
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