Navjot invested a sum of ₹48,800 at 10% per annum for 1 year on compound interest (interest is compounded half-yearly). Find the amount received by him.

Correct option is D

Given:
Principal (P) = ₹48,800
Rate (R) = 10% per annum
Time (T) = 1 year
Compounding = Half-yearly
Concept Used:
For half-yearly compounding:
New Rate (r) $$= \frac{10}{2} = 5\%$$​​
Number of periods (n) $$= 1 \times 2 = 2$$​​
Formula Used:
​$$A = P(1 + \frac{r}{100})^n$$​​
Solution:
​$$A = 48800(1 + \frac{5}{100})^2 \\ \ \\A = 48800(\frac{105}{100})^2 = 48800(\frac{21}{20})^2 \\ \ \\A = 48800 \times \frac{441}{400} \\ \ \\A = 122 \times 441 \\ \ \\A = 53802$$​​
So the correct answer is (d)