What is the compound interest on Rs. 10000 for 1 year at 20% per annum, compounded half-yearly? MCQ with Answer and Explanation
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Question #1
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The difference between CI and SI on Rs. 7200 for 2 years at 10% is:
Correct Answer: Option A
Explanation:
D = 7200 × 0.01 = Rs. 72.
D = 7200 × 0.01 = Rs. 72.
This question belongs to:
Maths
Compound Interest
Question #2
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What is the compound interest on Rs. 64000 for 1 year at 5% per annum, compounded half-yearly?
Correct Answer: Option D
Explanation:
Half-yearly rate = 5/2 = 2.5%. Time = 2 half-years. Amount = 64000 * (1 + 2.5/100)^2 = 64000 * (41/40)^2 = 64000 * (1681 / 1600) = 40 * 1681 = Rs. 67240. Compound Interest = 67240 - 64000 = Rs. 3240.
Half-yearly rate = 5/2 = 2.5%. Time = 2 half-years. Amount = 64000 * (1 + 2.5/100)^2 = 64000 * (41/40)^2 = 64000 * (1681 / 1600) = 40 * 1681 = Rs. 67240. Compound Interest = 67240 - 64000 = Rs. 3240.
This question belongs to:
Maths
Compound Interest
Question #3
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The difference between compound interest and simple interest on Rs. 12500 for 2 years is Rs. 20. Find the rate of interest per annum.
Correct Answer: Option A
Explanation:
Difference for 2 years = P * (R/100)^2 => 20 = 12500 * (R/100)^2 => 20 = 12500 * R^2 / 10000 => 20 = 1.25 * R^2 => R^2 = 20 / 1.25 = 16 => R = 4%.
Difference for 2 years = P * (R/100)^2 => 20 = 12500 * (R/100)^2 => 20 = 12500 * R^2 / 10000 => 20 = 1.25 * R^2 => R^2 = 20 / 1.25 = 16 => R = 4%.
This question belongs to:
Maths
Compound Interest
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