What is the compound interest on Rs. 60000 for 1 year at 12% per annum, compounded half-yearly? MCQ with Answer and Explanation

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What is the compound interest on Rs. 60000 for 1 year at 12% per annum, compounded half-yearly?

A. Rs. 7500

B. Rs. 7416

C. Rs. 7200

D. Rs. 7600

Answer: Option B

Solution (By JKSSB Mock Tests)

Half-yearly rate = 12/2 = 6%. Time = 2 half-years. Amount = 60000 * (1 + 6/100)^2 = 60000 * 1.1236 = Rs. 67416. Compound Interest = 67416 - 60000 = Rs. 7416.

This question belongs to: Maths Compound Interest

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Question #1

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The difference between compound interest and simple interest on Rs. 5000 at 10% for 3 years is:

A. Rs. 155

B. Rs. 160

C. Rs. 170

D. Rs. 165

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Correct Answer: Option A

Explanation:
D = 5000 × (0.1)² × (3 + 0.1) = 5000 × 0.01 × 3.1 = 155.

This question belongs to: Maths Compound Interest

Question #2

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The value of a machine depreciates at the rate of 10% per annum. If its present value is Rs. 162000, what was its value 2 years ago?

A. Rs. 220000

B. Rs. 190000

C. Rs. 210000

D. Rs. 200000

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Correct Answer: Option D

Explanation:
Value 2 years ago = 162000 / (1 - 10/100)^2 = 162000 / (0.9)^2 = 162000 / 0.81 = Rs. 200000.

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Question #3

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Find the compound interest on Rs. 2000 at 10% per annum for 1.5 years compounded half-yearly.

A. Rs. 300

B. Rs. 330

C. Rs. 350

D. Rs. 315.25

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Correct Answer: Option D

Explanation:
Half-yearly rate 5%, n=3. A = 2000 × (1.05)³ = 2000 × 1.157625 = 2315.25, CI = 2315.25 − 2000 = Rs. 315.25.

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