A sum of ₹1200 is invested at compound interest (compounded half yearly). If the rate of interest is 10% per annum, then what will be the amount after 18 months?
A.₹1563.25
B.₹1185.45
C.₹1389.15✓ Correct
D.₹1295.35
Explanation
For half-yearly compounding: rate = 5% per half year, time = 3 half-years. Amount = 1200 × (1.05)³ = 1200 × 1.157625 = ₹1389.15.
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