What is the compound interest on Rs. 64000 for 1 year at 5% per annum, compounded half-yearly? MCQ with Answer and Explanation

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What is the compound interest on Rs. 64000 for 1 year at 5% per annum, compounded half-yearly?

A. Rs. 3280

B. Rs. 3200

C. Rs. 3320

D. Rs. 3240

Answer: Option D

Solution (By JKSSB Mock Tests)

Half-yearly rate = 5/2 = 2.5%. Time = 2 half-years. Amount = 64000 * (1 + 2.5/100)^2 = 64000 * (41/40)^2 = 64000 * (1681 / 1600) = 40 * 1681 = Rs. 67240. Compound Interest = 67240 - 64000 = Rs. 3240.

This question belongs to: Maths Compound Interest

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Question #1

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The simple interest on a sum for 2 years at 4% is Rs. 320. The compound interest on the same sum for 2 years at 4% is:

A. Rs. 332.80

B. Rs. 345.60

C. Rs. 326.40

D. Rs. 339.20

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Correct Answer: Option C

Explanation:
P = 32000/(4×2) = 4000. CI = 4000 × 0.0816 = 326.40.

This question belongs to: Maths Compound Interest

Question #2

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Find the compound interest on Rs. 4500 at 8% per annum for 1 year compounded half-yearly.

A. Rs. 374.40

B. Rs. 380

C. Rs. 367.20

D. Rs. 360

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Correct Answer: Option C

Explanation:
Half-yearly rate 4%, n=2. A = 4500 × (1.04)² = 4500 × 1.0816 = 4867.20, CI = 4867.20 − 4500 = Rs. 367.20.

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Question #3

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The compound interest on Rs. 6000 for 2 years at 5% per annum is:

A. Rs. 610

B. Rs. 600

C. Rs. 630

D. Rs. 615

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Correct Answer: Option D

Explanation:
A = 6000 × (1.05)² = 6000 × 1.1025 = 6615, CI = 6615 − 6000 = Rs. 615.

This question belongs to: Maths Compound Interest

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