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Hafeez invested Rs. 15000 @ 10% per annum for one year. If the interest is compounded half-yearly, then the amount received by Hafeez at the end of the year will be?

Correct answer: C. Rs. 16,537.50

  • A. Rs. 16,500
  • B. Rs. 16,525.50
  • C. Rs. 16,537.50
  • D. Rs. 18,150

Explanation

For half-yearly compounding, the 10% annual rate becomes 5% per half-year, giving two periods: Rs. 15,000 x 1.05 x 1.05 = Rs. 16,537.50. Option a, Rs. 16,500, results from calculating simple interest and ignoring the second-period interest on the first half-year's interest.

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