Find the compound interest on Rs. 8000 for 1.5 years at 10% per annum compounded half-yearly. MCQ with Answer and Explanation

Find the compound interest on Rs. 8000 for 1.5 years at 10% per annum compounded half-yearly.

A. Rs. 1240

B. Rs. 1300

C. Rs. 1261

D. Rs. 1200

Answer: Option C

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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Question #1 Report Error

If the simple interest on a sum for 2 years at 8% is Rs. 400, the compound interest on the same sum for 2 years at 8% is:

A. Rs. 416

B. Rs. 424

C. Rs. 432

D. Rs. 440

Correct Answer: Option A

Explanation:
P = SI × 100 / (8×2) = 40000/16 = 2500. CI = 2500[(1.08)² − 1] = 2500 × 0.1664 = Rs. 416.

This question belongs to: Maths Compound Interest

Question #2 Report Error

The simple interest on a sum for 3 years at 6% is Rs. 540. The compound interest on the same sum for 2 years at 6% is:

A. Rs. 376.00

B. Rs. 374.40

C. Rs. 380.00

D. Rs. 370.80

Correct Answer: Option D

Explanation:
P = 54000/(6×3) = 3000. CI = 3000[(1.06)² − 1] = 3000 × 0.1236 = Rs. 370.80.

This question belongs to: Maths Compound Interest

Question #3 Report Error

Find the compound interest on Rs. 10000 at 8% per annum for 1 year compounded quarterly.

A. Rs. 800

B. Rs. 816

C. Rs. 832

D. Rs. 824.32

Correct Answer: Option D

Explanation:
Quarterly rate = 2%, n = 4. A = 10000 × (1.02)⁴ = 10000 × 1.08243216 = 10824.3216, CI ≈ Rs. 824.32.

This question belongs to: Maths Compound Interest