Question
Easy
A sum of ₹ 12,000 amounts to ₹15,972 at a certain rate percent per annum in 1 years, 1$\frac{1}{2}$ when the interest is compounded half-yearly. What will be the amount of the same sum in same time and with the same rate, if interest is compounded annually ?
1
₹ 15,840
2
₹ 15,420
3
₹ 15,950
4
₹ 14,520
Question Details
Time to Solve: 12
Exam: CTET
Level/Paper: CTET_P2
Chapter: Finance
Topic: Simple & Compound Interest
Correct Answer
Option A
Explanation
To determine why Option 1 (₹ 15,840) is the correct answer, we need to understand the process of calculating compound interest and how it differs when compounded annually versus half-yearly. ### Explanation: 1. Understanding the Problem: - We have an initial principal amount of ₹ 12,000. - The amount becomes ₹ 15,972 when compounded half-yearly for 1.5 years. - We need to find the amount for the same principal and…Read More
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