The compound interest on a sum for 2 years at 10% compounded half-yearly is Rs. 215.50. The sum is: MCQ with Answer and Explanation

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The compound interest on a sum for 2 years at 10% compounded half-yearly is Rs. 215.50. The sum is:

A. Rs. 1050

B. Rs. 1000

C. Rs. 950

D. Rs. 900

Answer: Option B

Solution (By JKSSB Mock Tests)

Half-yearly rate 5%, n=4. CI = P[(1.05)⁴ − 1] = P × 0.21550625 = 215.50 ⇒ P = 215.50 / 0.21550625 = 1000.

This question belongs to: Maths Compound Interest

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Question #1

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A sum of money amounts to Rs. 10584 in 2 years and Rs. 11113.20 in 3 years at compound interest. Find the sum.

A. Rs. 9200

B. Rs. 9600

C. Rs. 9000

D. Rs. 9400

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Correct Answer: Option B

Explanation:
Rate = (11113.20/10584 − 1) × 100 = 5%. P = 10584 / 1.1025 = 9600.

This question belongs to: Maths Compound Interest

Question #2

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

A. Rs. 460

B. Rs. 420

C. Rs. 440

D. Rs. 400

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Correct Answer: Option B

Explanation:
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

Question #3

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What is the compound interest on Rs. 20000 for 1 year at 16% per annum, compounded half-yearly?

A. Rs. 3328

B. Rs. 3500

C. Rs. 3200

D. Rs. 3400

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Correct Answer: Option A

Explanation:
Half-yearly rate = 16/2 = 8%. Time = 2 half-years. Amount = 20000 * (1 + 8/100)^2 = 20000 * 1.1664 = Rs. 23328. Compound Interest = 23328 - 20000 = Rs. 3328.

This question belongs to: Maths Compound Interest

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