The compound interest on Rs. 1000 at 10% per annum for 2 years compounded half-yearly is: MCQ with Answer and Explanation
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Question #1
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What is the compound interest on Rs. 2000 for 2 years at 5% per annum compounded annually?
Correct Answer: Option A
Explanation:
Amount = 2000 × (1.05)² = 2000 × 1.1025 = 2205, CI = 2205 − 2000 = Rs. 205.
Amount = 2000 × (1.05)² = 2000 × 1.1025 = 2205, CI = 2205 − 2000 = Rs. 205.
This question belongs to:
Maths
Compound Interest
Question #2
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Find the compound interest on Rs. 50000 for 1 year at 12% per annum, compounded quarterly.
Correct Answer: Option B
Explanation:
Quarterly rate = 12 / 4 = 3%. Time = 4 quarters. Amount = 50000 * (1 + 3/100)^4 = 50000 * (1.03)^4 = 50000 * 1.12550881 = Rs. 56275.44. Compound Interest = 56275.44 - 50000 = Rs. 6275.44.
Quarterly rate = 12 / 4 = 3%. Time = 4 quarters. Amount = 50000 * (1 + 3/100)^4 = 50000 * (1.03)^4 = 50000 * 1.12550881 = Rs. 56275.44. Compound Interest = 56275.44 - 50000 = Rs. 6275.44.
This question belongs to:
Maths
Compound Interest
Question #3
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The difference between CI and SI on Rs. 12500 for 2 years at 4% is:
Correct Answer: Option C
Explanation:
D = 12500 × 0.0016 = Rs. 20.
D = 12500 × 0.0016 = Rs. 20.
This question belongs to:
Maths
Compound Interest
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