Find the compound interest (in ₹, rounded off to the nearest integer) on ₹2,55,000 in 1.5 years at 8% per annum, the interest being compounded half-yearly.

Correct option is C

Given:

Principal (P) = ₹2,55,000

Rate (R) = 8% p.a.

Time = 1.5 years

Compounded = Half-yearly

Formula Used:

A = P $$\left(1 + \frac{R}{2 \times 100}\right)^{2T}$$​

CI = A - P

Solution :​

Half-yearly rate =$$\frac{8}{2} = 4\%$$​​

No. of half-years = $$1.5 \times 2 = 3$$

A = $$255000 \times \left(1 + \frac{4}{100}\right)^3$$​​

A =$$255000 \times (1.04)^3$$​

A = $$255000 \times 1.124864 \approx 2,86,840$$​

CI =$$286840- 255000 = 31,840$$​​