The compound interest on Rs. 6000 at 10% per annum for $${\text{1}}\frac{1}{2}$$ years, when the interest being compounded annually, is = ?

Solution (By Examveda Team)

$$\eqalign{ & {\text{Principal = Rs 6000}} \cr & {\text{Rate }}\% {\text{ = 10}}\% \cr & {\text{Time (t) = 1}}\frac{1}{2}{\text{ years}} \cr} $$

$$\eqalign{ & {{\text{2}}^{{\text{nd}}}}{\text{ year CI = 660}} \cr & {\text{6 months }}{{\text{2}}^{{\text{nd}}}}{\text{ year CI}} \cr & {\text{ = }}\frac{{660}}{2}{\text{ = 330}} \cr & {\text{Total CI}} \cr & {\text{ = }}\left( {600 + 330} \right) \cr & \,\, = 930 \cr} $$