The compound interest on Rs. 16000 at 10% per annum for 1.5 years compounded half-yearly is: MCQ with Answer and Explanation

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The compound interest on Rs. 16000 at 10% per annum for 1.5 years compounded half-yearly is:

A. Rs. 2662

B. Rs. 2522

C. Rs. 2600

D. Rs. 2400

Answer: Option B

Solution (By JKSSB Mock Tests)

Half-yearly rate 5%, n=3. A = 16000 × (1.05)³ = 16000 × 1.157625 = 18522, CI = 18522 − 16000 = 2522.

This question belongs to: Maths Compound Interest

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Question #1

The difference between CI and SI on Rs. 2400 for 2 years at 5% is:

A. Rs. 6.00

B. Rs. 5.00

C. Rs. 7.20

D. Rs. 4.80

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Correct Answer: Option A

Explanation:
D = 2400 × (0.05)² = 2400 × 0.0025 = Rs. 6.

This question belongs to: Maths Compound Interest

Question #2

A sum of money invested at compound interest doubles itself in 9 years. In how many years will it become 8 times of itself?

A. 45 years

B. 36 years

C. 27 years

D. 18 years

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Correct Answer: Option C

Explanation:
The sum doubles (2^1) in 9 years. It will become 8 (2^3) times in 3 * 9 = 27 years.

This question belongs to: Maths Compound Interest

Question #3

The compound interest on Rs. 11000 at 10% per annum for 2 years is:

A. Rs. 2310

B. Rs. 2530

C. Rs. 2200

D. Rs. 2420

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Correct Answer: Option A

Explanation:
A = 11000 × 1.21 = 13310, CI = 13310 − 11000 = Rs. 2310.

This question belongs to: Maths Compound Interest

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