The effective rate of interest for 10% per annum compounded half-yearly is: MCQ with Answer and Explanation
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Question #1
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Find the compound interest on Rs. 4500 at 8% per annum for 1 year compounded half-yearly.
Correct Answer: Option C
Explanation:
Half-yearly rate 4%, n=2. A = 4500 × (1.04)² = 4500 × 1.0816 = 4867.20, CI = 4867.20 − 4500 = Rs. 367.20.
Half-yearly rate 4%, n=2. A = 4500 × (1.04)² = 4500 × 1.0816 = 4867.20, CI = 4867.20 − 4500 = Rs. 367.20.
This question belongs to:
Maths
Compound Interest
Question #2
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The difference between CI and SI for 3 years at 5% on a sum is Rs. 122. Find the sum.
Correct Answer: Option A
Explanation:
D = P(5/100)² × (3 + 5/100) = P × 0.0025 × 3.05 = 0.007625P = 122 ⇒ P = 122 / 0.007625 = 16000.
D = P(5/100)² × (3 + 5/100) = P × 0.0025 × 3.05 = 0.007625P = 122 ⇒ P = 122 / 0.007625 = 16000.
This question belongs to:
Maths
Compound Interest
Question #3
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The compound interest on Rs. 5000 at 8% per annum for 1 year compounded half-yearly is:
Correct Answer: Option B
Explanation:
Rate per half-year = 4%, n = 2. A = 5000 × (1.04)² = 5000 × 1.0816 = 5408, CI = 5408 − 5000 = Rs. 408.
Rate per half-year = 4%, n = 2. A = 5000 × (1.04)² = 5000 × 1.0816 = 5408, CI = 5408 − 5000 = Rs. 408.
This question belongs to:
Maths
Compound Interest
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