Find the compound interest on Rs. 2000 at 20% per annum compounded half-yearly for 1 year. MCQ with Answer and Explanation

Question

Share Report Error

Find the compound interest on Rs. 2000 at 20% per annum compounded half-yearly for 1 year.

A. Rs. 420

B. Rs. 460

C. Rs. 440

D. Rs. 400

Answer: Option A

Solution (By JKSSB Mock Tests)

Half-yearly rate = 10%, n = 2. A = 2000 × (1.1)² = 2000 × 1.21 = 2420, CI = 2420 − 2000 = Rs. 420.

This question belongs to: Maths Compound Interest

Request complete Subject PDF

Discuss this Question (0)

No comments yet. Be the first to start the discussion!

Practice More Compound Interest Questions

Question #1

The difference between CI and SI on Rs. 25000 for 2 years at 4% is:

A. Rs. 44

B. Rs. 36

C. Rs. 40

D. Rs. 48

View Answer & Solution Discuss

Get Complete Subject PDF for Maths

Correct Answer: Option C

Explanation:
D = 25000 × (0.04)² = 25000 × 0.0016 = Rs. 40.

This question belongs to: Maths Compound Interest

Question #2

Find the principal that yields a compound interest of Rs. 410 in 2 years at 5% per annum.

A. Rs. 3800

B. Rs. 4000

C. Rs. 4200

D. Rs. 4400

View Answer & Solution Discuss

Get Complete Subject PDF for Maths

Correct Answer: Option B

Explanation:
CI = P[(1.05)² − 1] = P × 0.1025 = 410 ⇒ P = 410 / 0.1025 = 4000.

This question belongs to: Maths Compound Interest

Question #3

Find the compound interest on Rs. 12000 at 8% per annum for 1 year compounded half-yearly.

A. Rs. 979.20

B. Rs. 998.40

C. Rs. 960

D. Rs. 988.80

View Answer & Solution Discuss

Get Complete Subject PDF for Maths

Correct Answer: Option A

Explanation:
Half-yearly rate 4%, n=2. A = 12000 × (1.04)² = 12000 × 1.0816 = 12979.20, CI = 12979.20 − 12000 = Rs. 979.20.

This question belongs to: Maths Compound Interest

Explore All Compound Interest MCQs