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. 350

B. Rs. 330

C. Rs. 300

D. Rs. 315.25

Answer: Option D

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

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A sum of money invested at compound interest amounts to Rs. 4624 in 2 years and to Rs. 4913 in 3 years. Find the rate of interest per annum.

A. 5%

B. 6.5%

C. 6%

D. 6.25%

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Correct Answer: Option D

Explanation:
Interest for the 3rd year = 4913 - 4624 = Rs. 289. Rate of interest = (289 / 4624) * 100 = 0.0625 * 100 = 6.25%.

This question belongs to: Maths Compound Interest

Question #2

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The difference between CI and SI on Rs. 1400 for 2 years at 10% is:

A. Rs. 15

B. Rs. 14

C. Rs. 12

D. Rs. 13

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Correct Answer: Option B

Explanation:
D = 1400 × 0.01 = Rs. 14.

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Question #3

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The simple interest on a sum for 2 years at 6% is Rs. 720. The compound interest on the same sum for 2 years at 6% is:

A. Rs. 756.00

B. Rs. 741.60

C. Rs. 763.20

D. Rs. 748.80

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Correct Answer: Option B

Explanation:
P = 72000/(6×2) = 6000. CI = 6000 × 0.1236 = Rs. 741.60.

This question belongs to: Maths Compound Interest

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