The compound interest on Rs. 10000 for 1 year at 4% per annum compounded half-yearly is: MCQ with Answer and Explanation

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The compound interest on Rs. 10000 for 1 year at 4% per annum compounded half-yearly is:

A. Rs. 404

B. Rs. 400

C. Rs. 412

D. Rs. 408

Answer: Option A

Solution (By JKSSB Mock Tests)

Half-yearly rate = 2%, n=2. A = 10000 × (1.02)² = 10000 × 1.0404 = 10404, CI = 10404 − 10000 = Rs. 404.

This question belongs to: Maths Compound Interest

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Practice More Compound Interest Questions

Question #1

Find the compound interest on Rs. 24000 at 5% per annum for 2 years.

A. Rs. 2460

B. Rs. 2400

C. Rs. 2580

D. Rs. 2520

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Correct Answer: Option A

Explanation:
A = 24000 × 1.1025 = 26460, CI = 26460 − 24000 = Rs. 2460.

This question belongs to: Maths Compound Interest

Question #2

The difference between CI and SI on Rs. 2000 for 2 years at 4% per annum is:

A. Rs. 3.60

B. Rs. 3.20

C. Rs. 4.00

D. Rs. 4.80

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Correct Answer: Option B

Explanation:
D = 2000 × (0.04)² = 2000 × 0.0016 = Rs. 3.20.

This question belongs to: Maths Compound Interest

Question #3

A man invested Rs. 15000 at compound interest for 2 years at 4% per annum. Find the amount.

A. Rs. 16400

B. Rs. 16224

C. Rs. 16300

D. Rs. 16240

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Correct Answer: Option B

Explanation:
A = 15000 × (1.04)² = 15000 × 1.0816 = 16224.

This question belongs to: Maths Compound Interest

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