The compound interest on Rs. 10000 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. 10000 at 10% per annum for 2 years compounded half-yearly is:

A. Rs. 2250

B. Rs. 2300

C. Rs. 2200

D. Rs. 2155.06

Answer: Option D

Solution (By JKSSB Mock Tests)

Half-yearly rate 5%, n=4. A = 10000 × (1.05)⁴ = 10000 × 1.21550625 = 12155.0625, CI = Rs. 2155.06.

This question belongs to: Maths Compound Interest

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Question #1

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The compound interest on a certain sum for 2 years at 10% per annum is Rs. 630. Find the principal sum.

A. Rs. 3200

B. Rs. 3400

C. Rs. 2800

D. Rs. 3000

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Correct Answer: Option D

Explanation:
Effective rate of compound interest for 2 years at 10% = 10 + 10 + (1010)/100 = 21%. Given 21% of P = 630 => P = 630 / 0.21 = Rs. 3000.

This question belongs to: Maths Compound Interest

Question #2

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The simple interest on a sum for 3 years at 6% is Rs. 540. The compound interest on the same sum for 2 years at 6% is:

A. Rs. 370.80

B. Rs. 380.00

C. Rs. 374.40

D. Rs. 376.00

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Correct Answer: Option A

Explanation:
P = 54000/(6×3) = 3000. CI = 3000[(1.06)² − 1] = 3000 × 0.1236 = Rs. 370.80.

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Question #3

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The simple interest on a sum for 2 years at 4% is Rs. 200. The compound interest on the same sum for 2 years at 4% is:

A. Rs. 202

B. Rs. 204

C. Rs. 206

D. Rs. 200

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Correct Answer: Option B

Explanation:
P = 20000/(4×2) = 2500. CI = 2500 × [(1.04)² − 1] = 2500 × 0.0816 = 204.

This question belongs to: Maths Compound Interest

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