What is the compound interest on Rs. 10000 for 1 year at 12% per annum, compounded half-yearly? MCQ with Answer and Explanation

Question

Share Report Error

What is the compound interest on Rs. 10000 for 1 year at 12% per annum, compounded half-yearly?

A. Rs. 1236

B. Rs. 1300

C. Rs. 1250

D. Rs. 1200

Answer: Option A

Solution (By JKSSB Mock Tests)

Half-yearly rate = 12/2 = 6%. Time = 2 half-years. Amount = 10000 * (1 + 6/100)^2 = 10000 * 1.1236 = Rs. 11236. Compound Interest = 11236 - 10000 = Rs. 1236.

This question belongs to: Maths Compound Interest

Request complete Subject PDF

Discuss this Question (0)

No comments yet. Be the first to start the discussion!

Practice More Compound Interest Questions

Question #1

Share Report

Find the compound interest on Rs. 10000 for 1 year at 12% per annum, compounded quarterly.

A. Rs. 1255.09

B. Rs. 1280.00

C. Rs. 1200.00

D. Rs. 1262.00

View Answer & Solution Discuss

Get Complete Subject PDF for Maths

Correct Answer: Option A

Explanation:
Quarterly rate = 12 / 4 = 3%. Time = 4 quarters. Amount = 10000 * (1 + 3/100)^4 = 10000 * (1.03)^4 = 10000 * 1.12550881 = Rs. 11255.09. Compound Interest = 11255.09 - 10000 = Rs. 1255.09.

This question belongs to: Maths Compound Interest