Find the compound interest on Rs. 2000 at 10% per annum for 1.5 years compounded half-yearly. MCQ with Answer and Explanation

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Find the compound interest on Rs. 2000 at 10% per annum for 1.5 years compounded half-yearly.

A. Rs. 330

B. Rs. 350

C. Rs. 315.25

D. Rs. 300

Answer: Option C

Solution (By JKSSB Mock Tests)

Half-yearly rate 5%, n=3. A = 2000 × (1.05)³ = 2000 × 1.157625 = 2315.25, CI = 2315.25 − 2000 = Rs. 315.25.

This question belongs to: Maths Compound Interest

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Question #1

The compound interest on Rs. 9500 at 8% per annum for 2 years is:

A. Rs. 1595

B. Rs. 1576

C. Rs. 1588

D. Rs. 1580.80

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Correct Answer: Option D

Explanation:
A = 9500 × (1.08)² = 9500 × 1.1664 = 11080.80, CI = 11080.80 − 9500 = Rs. 1580.80.

This question belongs to: Maths Compound Interest

Question #2

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. 600

B. Rs. 660

C. Rs. 630

D. Rs. 690

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Correct Answer: Option C

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

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Question #3

What sum will amount to Rs. 10584 in 2 years at 5% compound interest?

A. Rs. 9200

B. Rs. 9800

C. Rs. 9400

D. Rs. 9600

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Correct Answer: Option D

Explanation:
P = 10584 / 1.1025 = 9600.

This question belongs to: Maths Compound Interest

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