Find the compound interest on Rs. 60000 at 10% per annum for 2 years compounded half-yearly. MCQ with Answer and Explanation

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Find the compound interest on Rs. 60000 at 10% per annum for 2 years compounded half-yearly.

A. Rs. 13100

B. Rs. 13000

C. Rs. 13200

D. Rs. 12930

Answer: Option D

Solution (By JKSSB Mock Tests)

Half-yearly rate 5%, n=4. A = 60000 × (1.05)⁴ = 60000 × 1.21550625 = 72930.375, CI = 12930.375 ≈ 12930.

This question belongs to: Maths Compound Interest

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Practice More Compound Interest Questions

Question #1

What will be the compound interest on Rs. 7500 at 4% per annum for 2 years?

A. Rs. 616

B. Rs. 624

C. Rs. 612

D. Rs. 608

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Correct Answer: Option C

Explanation:
A = 7500 × (1.04)² = 7500 × 1.0816 = 8112, CI = 8112 − 7500 = Rs. 612.

This question belongs to: Maths Compound Interest

Question #2

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

A. 7%

B. 8%

C. 5%

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 #3

In what time will Rs. 5000 amount to Rs. 6050 at 10% per annum compound interest?

A. 2 years

B. 4 years

C. 3 years

D. 1 year

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Correct Answer: Option A

Explanation:
5000(1.1)^t = 6050 ⇒ (1.1)^t = 1.21 = (1.1)² ⇒ t = 2.

This question belongs to: Maths Compound Interest

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