What is the compound interest on Rs. 10000 for 1 year at 8% per annum, compounded half-yearly? MCQ with Answer and Explanation

What is the compound interest on Rs. 10000 for 1 year at 8% per annum, compounded half-yearly?

A. Rs. 850

B. Rs. 800

C. Rs. 816

D. Rs. 830

Answer: Option C

Solution (By JKExamLibrary)

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

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Practice More Compound Interest Questions

Question #1 Report Error

Find the compound interest on Rs. 4500 at 10% per annum for 1 year compounded half-yearly.

A. Rs. 461.25

B. Rs. 480

C. Rs. 450

D. Rs. 472.50

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Correct Answer: Option A

Explanation:
Half-yearly rate 5%, n=2. A = 4500 × (1.05)² = 4500 × 1.1025 = 4961.25, CI = 4961.25 − 4500 = Rs. 461.25.

This question belongs to: Maths Compound Interest

Question #2 Report Error

The simple interest on a sum for 2 years at 9% is Rs. 540. The compound interest on the same sum for 2 years at 9% is:

A. Rs. 567.00

B. Rs. 564.30

C. Rs. 570.00

D. Rs. 561.60

View Answer & Solution Discuss

Correct Answer: Option B

Explanation:
P = 54000/(9×2) = 3000. CI = 3000[(1.09)² − 1] = 3000 × 0.1881 = 564.30.

This question belongs to: Maths Compound Interest

Question #3 Report Error

A sum of money triples itself in 6 years at compound interest. In how many years will it become 9 times?

A. 12 years

B. 10 years

C. 15 years

D. 9 years

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Correct Answer: Option A

Explanation:
3 times in 6 years, 9 = 3² ⇒ 6 × 2 = 12 years.

This question belongs to: Maths Compound Interest

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