If ₹60,000 is invested at a compound interest of 20% p.a. for 18 months, then find the interest earned given that the sum is compounded every 6 months.
Answer
The correct answer is C: ₹19,860. Rate per 6 months = 10%, periods = 3. Amount = 60000 × (1.1)³ = 60000 × 1.331 = ₹79,860.