Find the CI on Rs.6550 at 4% pa for 2 years compounded half yearly(approx) ?Rs.537.1Rs.527.2Rs.530.7Rs.547.1

To find the compound interest (CI) compounded half yearly, we use the formula:

A = P (1 + r/n)^(nt)

Where: A = the amount of money accumulated after n years, including interest. P = principal amount (the initial amount of money) r = annual interest rate (in decimal) n = number of times that interest is compounded per year t = time the money is invested for in years

Given: P = Rs.6550 r = 4% per annum = 0.04 (in decimal) n = 2 (since it is compounded half yearly) t = 2 years

Substituting the given values in the formula:

A = 6550 (1 + 0.04/2)^(2*2)

Calculating the above expression will give us the total amount after 2 years.

To find the compound interest (CI), we subtract the principal from the total amount.

CI = A - P

Calculate the above to get the compound interest. Compare the result with the options given to find the correct answer.