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. 950

B. Rs. 900

C. Rs. 1000

D. Rs. 1050

Answer: Option C

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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The effective rate of interest for 10% per annum compounded half-yearly is:

A. 10.75%

B. 10.25%

C. 10.50%

D. 10.10%

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Correct Answer: Option B

Explanation:
Effective rate = (1.05)² − 1 = 1.1025 − 1 = 0.1025 = 10.25%.

This question belongs to: Maths Compound Interest

Question #2

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The difference between CI and SI on Rs. 9000 for 2 years at 6% is:

A. Rs. 34.20

B. Rs. 32.40

C. Rs. 28.80

D. Rs. 30.00

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Correct Answer: Option B

Explanation:
D = 9000 × (0.06)² = 9000 × 0.0036 = Rs. 32.40.

This question belongs to: Maths Compound Interest

Question #3

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The compound interest on a sum for 2 years at 12% is Rs. 636. The sum is:

A. Rs. 2400

B. Rs. 2000

C. Rs. 2500

D. Rs. 2600

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Correct Answer: Option C

Explanation:
CI = P[(1.12)² − 1] = P × 0.2544 = 636 ⇒ P = 636/0.2544 = 2500.

This question belongs to: Maths Compound Interest

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