Find the compound interest on Rs. 2500 at 8% per annum compounded half-yearly for 1 year. MCQ with Answer and Explanation
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Question #1
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Find the compound interest on Rs. 5600 at 5% per annum for 2 years.
Correct Answer: Option D
Explanation:
A = 5600 × 1.1025 = 6174, CI = 6174 − 5600 = Rs. 574.
A = 5600 × 1.1025 = 6174, CI = 6174 − 5600 = Rs. 574.
This question belongs to:
Maths
Compound Interest
Question #2
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At what rate percent compound interest will a sum of money become 9 times in 2 years?
Correct Answer: Option C
Explanation:
(1 + r)² = 9 ⇒ 1 + r = 3 ⇒ r = 2 = 200%.
(1 + r)² = 9 ⇒ 1 + r = 3 ⇒ r = 2 = 200%.
This question belongs to:
Maths
Compound Interest
Question #3
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Find the compound interest on Rs. 8000 for 1.5 years at 10% per annum compounded half-yearly.
Correct Answer: Option D
Explanation:
Half-yearly rate = 5%, periods = 3. A = 8000 × (1.05)³ = 8000 × 1.157625 = 9261, CI = 9261 − 8000 = Rs. 1261.
Half-yearly rate = 5%, periods = 3. A = 8000 × (1.05)³ = 8000 × 1.157625 = 9261, CI = 9261 − 8000 = Rs. 1261.
This question belongs to:
Maths
Compound Interest
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