The compound interest on a sum for 1 year at 8% compounded half-yearly is Rs. 408. The sum is: MCQ with Answer and Explanation

The compound interest on a sum for 1 year at 8% compounded half-yearly is Rs. 408. The sum is:

A. Rs. 5200

B. Rs. 5000

C. Rs. 5400

D. Rs. 4800

Answer: Option B

A = P(1.04)² = P × 1.0816. CI = P × 0.0816 = 408 ⇒ P = 408 / 0.0816 = 5000.

This question belongs to: Maths Compound Interest

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Question #1 Report Error

In how many years will Rs. 1500 amount to Rs. 1815 at 10% per annum compound interest?

A. 2 years

B. 2.5 years

C. 3 years

D. 1.5 years

Correct Answer: Option A

Explanation:
1500(1.1)^t = 1815 ⇒ (1.1)^t = 1.21 ⇒ t = 2.

This question belongs to: Maths Compound Interest

Question #2 Report Error

The difference between compound interest and simple interest on a sum for 2 years at 8% is Rs. 32. The sum is:

A. Rs. 4000

B. Rs. 5500

C. Rs. 4500

D. Rs. 5000

Correct Answer: Option D

Explanation:
D = P × (0.08)² = P × 0.0064 = 32 ⇒ P = 5000.

This question belongs to: Maths Compound Interest

Question #3 Report Error

A sum of money at compound interest doubles in 15 years. In how many years will it become 128 times?

A. 75 years

B. 90 years

C. 120 years

D. 105 years

Correct Answer: Option D

Explanation:
128 = 2⁷, so 15 × 7 = 105 years.

This question belongs to: Maths Compound Interest