The compound interest on a sum for 2 years at 10% compounded half-yearly is Rs. 215.50. The sum is: MCQ with Answer and Explanation

The compound interest on a sum for 2 years at 10% compounded half-yearly is Rs. 215.50. The sum is:

A. Rs. 950

B. Rs. 1050

C. Rs. 1000

D. Rs. 900

Answer: Option C

Half-yearly rate 5%, n=4. CI = P[(1.05)⁴ − 1] = P × 0.21550625 = 215.50 ⇒ P = 215.50 / 0.21550625 = 1000.

This question belongs to: Maths Compound Interest

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Question #1 Report Error

A sum of money amounts to Rs. 12960 in 2 years and Rs. 15552 in 3 years at compound interest. Find the sum.

A. Rs. 9500

B. Rs. 8500

C. Rs. 9000

D. Rs. 8000

Correct Answer: Option C

Explanation:
Rate = (15552/12960 − 1) × 100 = 20%. P = 12960 / 1.44 = 9000.

This question belongs to: Maths Compound Interest

Question #2 Report Error

The difference between CI and SI on Rs. 1100 for 2 years at 10% is:

A. Rs. 12

B. Rs. 13

C. Rs. 10

D. Rs. 11

Correct Answer: Option D

Explanation:
D = 1100 × 0.01 = Rs. 11.

This question belongs to: Maths Compound Interest

Question #3 Report Error

The difference between CI and SI on a sum for 2 years at 10% is Rs. 150. The sum is:

A. Rs. 15000

B. Rs. 13000

C. Rs. 14000

D. Rs. 12000

Correct Answer: Option A

Explanation:
D = P × 0.01 = 150 ⇒ P = 15000.

This question belongs to: Maths Compound Interest