What is the compound interest on Rs. 30000 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. 30000 for 1 year at 16% per annum, compounded half-yearly?

A. Rs. 5100

B. Rs. 4800

C. Rs. 5200

D. Rs. 4992

Answer: Option D

Solution (By JKSSB Mock Tests)

Half-yearly rate = 16/2 = 8%. Time = 2 half-years. Amount = 30000 * (1 + 8/100)^2 = 30000 * 1.1664 = Rs. 34992. Compound Interest = 34992 - 30000 = Rs. 4992.

This question belongs to: Maths Compound Interest

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Question #1

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A sum of money becomes 4 times in 2 years at compound interest. The rate of interest per annum is:

A. 100%

B. 50%

C. 75%

D. 200%

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Correct Answer: Option A

Explanation:
P(1 + r)² = 4P ⇒ (1+r)² = 4 ⇒ 1+r = 2 ⇒ r = 1 = 100%.

This question belongs to: Maths Compound Interest

Question #2

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The difference between CI and SI on Rs. 9800 for 2 years at 10% is:

A. Rs. 98

B. Rs. 100

C. Rs. 90

D. Rs. 95

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Correct Answer: Option A

Explanation:
D = 9800 × 0.01 = Rs. 98.

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Question #3

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Find the compound interest on Rs. 12000 at 8% per annum for 1 year compounded half-yearly.

A. Rs. 960

B. Rs. 998.40

C. Rs. 988.80

D. Rs. 979.20

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Correct Answer: Option D

Explanation:
Half-yearly rate 4%, n=2. A = 12000 × (1.04)² = 12000 × 1.0816 = 12979.20, CI = 12979.20 − 12000 = Rs. 979.20.

This question belongs to: Maths Compound Interest

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