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How much would a sum of Rs 16000 approximately amount to in 2 years at 10% P.a compounded half-yearly?

Correct answer: C. Rs 19448

  • A. Rs 17423
  • B. Rs 18973
  • C. Rs 19448
  • D. Rs 19880

Explanation

At 10% annually compounded half-yearly, the rate per half-year is 5%, and 2 years contain 4 periods. The amount is 16,000 Rs x (1.05)^4 = 19,448.10 Rs, approximately 19,448 Rs. Students may choose 18,973 Rs by applying 10% only twice instead of applying 5% four times.

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Percentages express a quantity as parts per hundred and support calculations involving increases, decreases, discounts, commissions, taxes, and successive changes. Questions require distinguishing percentage change from percentage points and identifying the original value when a final value and its percentage change are given.

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