Find the compound interest on Rs. 1800 at 10% per annum for 1 year compounded half-yearly. MCQ with Answer and Explanation

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Find the compound interest on Rs. 1800 at 10% per annum for 1 year compounded half-yearly.

A. Rs. 180

B. Rs. 189

C. Rs. 190

D. Rs. 184.50

Answer: Option D

Solution (By JKSSB Mock Tests)

Half-yearly rate 5%, n=2. A = 1800 × (1.05)² = 1800 × 1.1025 = 1984.50, CI = 1984.50 − 1800 = Rs. 184.50.

This question belongs to: Maths Compound Interest

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Question #1

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At what rate percent compound interest will Rs. 5000 amount to Rs. 5618 in 2 years?

A. 5%

B. 7%

C. 8%

D. 6%

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Correct Answer: Option D

Explanation:
5000(1+r)² = 5618 ⇒ (1+r)² = 1.1236 = (1.06)² ⇒ r = 6%.

This question belongs to: Maths Compound Interest

Question #2

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The difference between simple interest and compound interest on a certain sum of money for 3 years at 10% per annum is Rs. 186. Find the sum.

A. Rs. 5500

B. Rs. 6500

C. Rs. 7000

D. Rs. 6000

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Correct Answer: Option D

Explanation:
Difference for 3 years = P * (R/100)^2 * (3 + R/100) => 186 = P * (10/100)^2 * (3 + 10/100) => 186 = P * (1/100) * (3.1) => 186 = P * 0.031 => P = 186 / 0.031 = Rs. 6000.

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Question #3

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Find the compound interest on Rs. 30000 for 1 year at 8% per annum, compounded quarterly.

A. Rs. 2550.50

B. Rs. 2510.00

C. Rs. 2472.96

D. Rs. 2400.00

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Correct Answer: Option C

Explanation:
Quarterly rate = 8 / 4 = 2%. Time = 4 quarters. Amount = 30000 * (1 + 2/100)^4 = 30000 * (1.02)^4 = 30000 * 1.08243216 = Rs. 32472.96. Compound Interest = 32472.96 - 30000 = Rs. 2472.96.

This question belongs to: Maths Compound Interest

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