Virat invested ₹52,500 at 8% p.a. for 1 year at compound interest, compounded half-yearly. The amount received by him is:

Correct option is B

Explanation of options: (a) ✘ Slightly underestimated due to incorrect application of compound formula (b) ✔ Accurate use of compound interest formula with half-yearly compounding (c) ✘ ₹56,480 is close but incorrect (d) ✘ ₹56,992 is slightly overestimated