What is the compound interest on Rs. 10000 for 1 year at 12% per annum, compounded half-yearly? MCQ with Answer and Explanation

What is the compound interest on Rs. 10000 for 1 year at 12% per annum, compounded half-yearly?

A. Rs. 1236

B. Rs. 1250

C. Rs. 1200

D. Rs. 1300

Answer: Option A

Solution (By JKExamLibrary)

Half-yearly rate = 12/2 = 6%. Time = 2 half-years. Amount = 10000 * (1 + 6/100)^2 = 10000 * 1.1236 = Rs. 11236. Compound Interest = 11236 - 10000 = Rs. 1236.

This question belongs to: Maths Compound Interest

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Practice More Compound Interest Questions

Question #1 Report Error

At compound interest, if a sum becomes 8 times in 3 years, what is the rate of interest?

A. 150%

B. 200%

C. 50%

D. 100%

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Correct Answer: Option D

Explanation:
(1+r)³ = 8 ⇒ 1+r = 2 ⇒ r = 100%.

This question belongs to: Maths Compound Interest

Question #2 Report Error

The simple interest on a sum for 3 years at 10% is Rs. 900. The compound interest on the same sum for 2 years at 10% is:

A. Rs. 660

B. Rs. 600

C. Rs. 690

D. Rs. 630

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Correct Answer: Option D

Explanation:
P = 90000/(10×3) = 3000. CI = 3000 × 0.21 = 630.

This question belongs to: Maths Compound Interest

Question #3 Report Error

The compound interest on Rs. 6000 at 5% per annum for 2 years is:

A. Rs. 645

B. Rs. 630

C. Rs. 600

D. Rs. 615

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Correct Answer: Option D

Explanation:
A = 6000 × 1.1025 = 6615, CI = 6615 − 6000 = Rs. 615.

This question belongs to: Maths Compound Interest

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