The compound interest on Rs. 1000 at 10% per annum for 2 years compounded half-yearly is: MCQ with Answer and Explanation

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The compound interest on Rs. 1000 at 10% per annum for 2 years compounded half-yearly is:

A. Rs. 220

B. Rs. 215.50

C. Rs. 225

D. Rs. 210

Answer: Option B

Solution (By JKSSB Mock Tests)

Half-yearly rate 5%, n=4. A = 1000 × (1.05)⁴ = 1000 × 1.21550625 = 1215.50625, CI ≈ Rs. 215.50.

This question belongs to: Maths Compound Interest

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Practice More Compound Interest Questions

Question #1

The difference between CI and SI on Rs. 8800 for 2 years at 5% is:

A. Rs. 22

B. Rs. 20

C. Rs. 18

D. Rs. 24

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Correct Answer: Option A

Explanation:
D = 8800 × 0.0025 = Rs. 22.

This question belongs to: Maths Compound Interest

Question #2

A sum of money at compound interest amounts to Rs. 16105 in 2 years and Rs. 17715.50 in 3 years. Find the sum.

A. Rs. 12000

B. Rs. 13000

C. Rs. 13310

D. Rs. 12500

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Correct Answer: Option C

Explanation:
Rate = (17715.50/16105 − 1) × 100 = 10%. P = 16105 / 1.21 = 13310? 16105/1.21 = 13310 exactly. So answer D 13310.

This question belongs to: Maths Compound Interest

Question #3

A sum of money placed at compound interest becomes double of itself in 5 years. In how many years will it become 16 times of itself?

A. 15 years

B. 30 years

C. 25 years

D. 20 years

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Correct Answer: Option D

Explanation:
The sum becomes 2^1 times in 5 years. It will become 16 (2^4) times in 4 * 5 = 20 years.

This question belongs to: Maths Compound Interest

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