The compound interest on Rs. 12500 at 8% per annum for 1 year compounded half-yearly is: MCQ with Answer and Explanation
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Question #1
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At what rate percent compound interest will a sum of Rs. 2000 become Rs. 2880 in 2 years?
Correct Answer: Option A
Explanation:
2000(1+r)² = 2880 ⇒ (1+r)² = 1.44 = (1.2)² ⇒ r = 20%.
2000(1+r)² = 2880 ⇒ (1+r)² = 1.44 = (1.2)² ⇒ r = 20%.
This question belongs to:
Maths
Compound Interest
Question #2
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What is the compound interest on Rs. 10000 for 1 year at 8% per annum, compounded half-yearly?
Correct Answer: Option C
Explanation:
Half-yearly rate = 8/2 = 4%. Time = 2 half-years. Amount = 10000 * (1 + 4/100)^2 = 10000 * 1.0816 = Rs. 10816. Compound Interest = 10816 - 10000 = Rs. 816.
Half-yearly rate = 8/2 = 4%. Time = 2 half-years. Amount = 10000 * (1 + 4/100)^2 = 10000 * 1.0816 = Rs. 10816. Compound Interest = 10816 - 10000 = Rs. 816.
This question belongs to:
Maths
Compound Interest
Question #3
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At what rate percent compound interest will Rs. 625 become Rs. 676 in 2 years?
Correct Answer: Option D
Explanation:
625(1+r)² = 676 ⇒ (1+r)² = 1.0816 = (1.04)² ⇒ r = 4%.
625(1+r)² = 676 ⇒ (1+r)² = 1.0816 = (1.04)² ⇒ r = 4%.
This question belongs to:
Maths
Compound Interest
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