Interest in 2 years for Rs. 500 = 600 – 500 = Rs. 100 ⇒ If the rate of interest is halved than interest will be half. ⇒ Interest in 2 years for Rs. 500 at half rate of interest = 100/2 = Rs. 50 ⇒ Amount = 500 + 50 = Rs. 550 ∴ The final amount will be Rs. 550.