The compound interest on Rs. 3000 for 3 years at 5% per annum is: MCQ with Answer and Explanation

Explanation:
Half-yearly rate 5%, n=2. A = 15000 × (1.05)² = 15000 × 1.1025 = 16537.50, CI = 16537.50 − 15000 = Rs. 1537.50.

Explanation:
D = 2500 × 0.0064 = Rs. 16.

Explanation:
Effective rate of compound interest for 2 years at 5% = 5 + 5 + (55)/100 = 10.25%. Simple interest rate = 5 * 2 = 10%. Given 10.25% of sum = 615 => 1% of sum = 60. Simple Interest = 10% of sum = 10 * 60 = Rs. 600.