The compound interest on Rs. 10000 at 10% per annum for 2 years compounded half-yearly is: MCQ with Answer and Explanation
Question
Report Error
Discuss this Question (0)
Practice More Compound Interest Questions
Question #1
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:
Correct Answer: Option A
Explanation:
P = 54000/(6×3) = 3000. CI = 3000[(1.06)² − 1] = 3000 × 0.1236 = Rs. 370.80.
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 #2
Report Error
The difference between simple interest and compound interest on a certain sum of money for 3 years at 10% per annum is Rs. 217. Find the sum.
Correct Answer: Option D
Explanation:
Difference for 3 years = P * (R/100)^2 * (3 + R/100) => 217 = P * (10/100)^2 * (3 + 10/100) => 217 = P * (1/100) * (3.1) => 217 = P * 0.031 => P = 217 / 0.031 = Rs. 7000.
Difference for 3 years = P * (R/100)^2 * (3 + R/100) => 217 = P * (10/100)^2 * (3 + 10/100) => 217 = P * (1/100) * (3.1) => 217 = P * 0.031 => P = 217 / 0.031 = Rs. 7000.
This question belongs to:
Maths
Compound Interest
Question #3
Report Error
At what rate of compound interest will Rs. 2000 amount to Rs. 2205 in 2 years?
Correct Answer: Option B
Explanation:
2000(1+r)² = 2205 ⇒ (1+r)² = 1.1025 = (1.05)² ⇒ r = 5%.
2000(1+r)² = 2205 ⇒ (1+r)² = 1.1025 = (1.05)² ⇒ r = 5%.
This question belongs to:
Maths
Compound Interest
No comments yet. Be the first to start the discussion!