Find the compound interest on Rs. 20000 at 10% per annum for 1.5 years compounded half-yearly. MCQ with Answer and Explanation

Find the compound interest on Rs. 20000 at 10% per annum for 1.5 years compounded half-yearly.

A. Rs. 3250

B. Rs. 3200

C. Rs. 3152.50

D. Rs. 3100

Answer: Option C

Half-yearly rate 5%, n=3. A = 20000 × (1.05)³ = 20000 × 1.157625 = 23152.50, CI = 23152.50 − 20000 = Rs. 3152.50.

This question belongs to: Maths Compound Interest

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Question #1 Report Error

Find the principal if the compound interest at 10% per annum for 2 years is Rs. 630.

A. Rs. 3500

B. Rs. 2800

C. Rs. 3200

D. Rs. 3000

Correct Answer: Option D

Explanation:
CI = P × 0.21 = 630 ⇒ P = 630 / 0.21 = 3000.

This question belongs to: Maths Compound Interest

Question #2 Report Error

At what rate percent per annum will Rs. 20000 amount to Rs. 24200 in 2 years, compound interest compounded annually?

A. 14%

B. 8%

C. 12%

D. 10%

Correct Answer: Option D

Explanation:
Amount/Principal = 24200 / 20000 = 121 / 100 = (11 / 10)^2. Therefore, 1 + R/100 = 11/10 => R/100 = 1/10 => R = 10%.

This question belongs to: Maths Compound Interest

Question #3 Report Error

At what rate percent per annum will Rs. 5000 amount to Rs. 5618 in 2 years at compound interest?

A. 5%

B. 8%

C. 7%

D. 6%

Correct Answer: Option D

Explanation:
5000(1+r)² = 5618 ⇒ (1+r)² = 1.1236 = (1.06)² ⇒ r = 6%.

This question belongs to: Maths Compound Interest