The compound interest on Rs. 9600 at 10% per annum for 1 year compounded half-yearly is: MCQ with Answer and Explanation

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The compound interest on Rs. 9600 at 10% per annum for 1 year compounded half-yearly is:

A. Rs. 960

B. Rs. 1020

C. Rs. 1008

D. Rs. 984

Answer: Option D

Solution (By JKExamLibrary)

Half-yearly rate 5%, n=2. A = 9600 × 1.1025 = 10584, CI = 10584 − 9600 = Rs. 984.

This question belongs to: Maths Compound Interest

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Practice More Compound Interest Questions

Question #1

Find the amount on Rs. 1800 at 10% per annum compound interest for 2 years.

A. Rs. 2160

B. Rs. 2196

C. Rs. 2178

D. Rs. 2200

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Correct Answer: Option C

Explanation:
A = 1800 × (1.1)² = 1800 × 1.21 = 2178.

This question belongs to: Maths Compound Interest

Question #2

The compound interest on a certain sum for 2 years at 10% per annum is Rs. 210. Find the principal sum.

A. Rs. 1100

B. Rs. 1050

C. Rs. 950

D. Rs. 1000

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Correct Answer: Option D

Explanation:
Effective rate of compound interest for 2 years at 10% = 10 + 10 + (1010)/100 = 21%. Given 21% of P = 210 => P = 210 / 0.21 = Rs. 1000.

This question belongs to: Maths Compound Interest

Question #3

Find the compound interest on Rs. 20000 for 1 year at 12% per annum, compounded quarterly.

A. Rs. 2400.00

B. Rs. 2550.00

C. Rs. 2510.18

D. Rs. 2600.00

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Correct Answer: Option C

Explanation:
Quarterly rate = 12 / 4 = 3%. Time = 4 quarters. Amount = 20000 * (1 + 3/100)^4 = 20000 * (1.03)^4 = 20000 * 1.12550881 = Rs. 22510.18. Compound Interest = 22510.18 - 20000 = Rs. 2510.18.

This question belongs to: Maths Compound Interest

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