What will be the compound interest on a sum of Rs. 31,250 for 2 years at 12% p.a., if the interest is compounded 8-monthly
A. Rs. 8,016
B. Rs. 8,106
C. Rs. 8,156
D. Rs. 8,116
Answer: Option D
Solution (By Examveda Team)
$$\eqalign{ & 12\,{\text{months}} \to 12\% \cr & 8\,{\text{months}} \to 8\% \cr & 8\% \to \frac{2}{{25}} \cr} $$
This Question Belongs to Arithmetic Ability >> Compound Interest
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