The compound interest on a sum for 1 year at 8% compounded half-yearly is Rs. 408. The sum is: MCQ with Answer and Explanation

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The compound interest on a sum for 1 year at 8% compounded half-yearly is Rs. 408. The sum is:

A. Rs. 5000

B. Rs. 5200

C. Rs. 5400

D. Rs. 4800

Answer: Option A

Solution (By JKSSB Mock Tests)

A = P(1.04)² = P × 1.0816. CI = P × 0.0816 = 408 ⇒ P = 408 / 0.0816 = 5000.

This question belongs to: Maths Compound Interest

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Question #1

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The difference between CI and SI on Rs. 8000 for 2 years at 5% per annum is:

A. Rs. 22

B. Rs. 20

C. Rs. 16

D. Rs. 18

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Correct Answer: Option B

Explanation:
Difference = P × (R/100)² = 8000 × 0.0025 = Rs. 20.

This question belongs to: Maths Compound Interest

Question #2

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A sum of money amounts to Rs. 6655 in 3 years and Rs. 7320.50 in 4 years at compound interest. The sum is:

A. Rs. 6000

B. Rs. 6500

C. Rs. 5500

D. Rs. 5000

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Correct Answer: Option D

Explanation:
Rate = (7320.50/6655 − 1) × 100 = 10%. P = 6655 / (1.1)³ = 6655 / 1.331 = 5000.

This question belongs to: Maths Compound Interest

Question #3

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A sum of money at compound interest becomes 8 times in 3 years. In how many years will it become 64 times?

A. 5 years

B. 9 years

C. 6 years

D. 4 years

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Correct Answer: Option C

Explanation:
8 times in 3 years, 64 = 8² ⇒ 3 × 2 = 6 years.

This question belongs to: Maths Compound Interest

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