What is the compound interest on Rs. 10000 for 1 year at 16% per annum, compounded half-yearly? MCQ with Answer and Explanation

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What is the compound interest on Rs. 10000 for 1 year at 16% per annum, compounded half-yearly?

A. Rs. 1700

B. Rs. 1600

C. Rs. 1750

D. Rs. 1664

Answer: Option D

Solution (By JKSSB Mock Tests)

Half-yearly rate = 16/2 = 8%. Time = 2 half-years. Amount = 10000 * (1 + 8/100)^2 = 10000 * 1.1664 = Rs. 11664. Compound Interest = 11664 - 10000 = Rs. 1664.

This question belongs to: Maths Compound Interest

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Question #1

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The difference between CI and SI on Rs. 10000 for 2 years at 10% per annum is:

A. Rs. 110

B. Rs. 120

C. Rs. 100

D. Rs. 90

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Correct Answer: Option C

Explanation:
Difference = P × (R/100)² = 10000 × 0.01 = Rs. 100.

This question belongs to: Maths Compound Interest

Question #2

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The compound interest on a certain sum for 2 years is Rs. 615 and the simple interest for the same period is Rs. 600. Find the rate of interest per annum.

A. 4%

B. 5%

C. 8%

D. 6%

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Correct Answer: Option B

Explanation:
Simple Interest for 1 year = 600 / 2 = Rs. 300. The difference between compound and simple interest is the interest on the first year's interest = 615 - 600 = Rs. 15. Rate of interest = (15 / 300) * 100 = 5%.

This question belongs to: Maths Compound Interest