Question : A person borrowed Rs. 8000 on compound interest at the rate of 20% per annum. If the interest is compounded half-yearly, then what will be the amount to be paid after 1.5 years?
Option 1: Rs. 10,648
Option 2: Rs. 11,488
Option 3: Rs. 10,825
Option 4: Rs. 9,865
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Correct Answer: Rs. 10,648
Solution : Here, Principal = Rs. 8,000 Rate = 20%, but it compounded half-yearly. so, rate = $\frac{20}{2}$ = 10% since interest is compounded half-yearly, time = 1.5 × 2 = 3 $\text{Total Amount}=\text{Principal}×(1+\frac{\text{Rate}}{100})^{\text{Time}}$ $⇒\text{Total Amount} = 8000 \left(1 + \frac{10}{100}\right)^{3} $ $⇒\text{Total Amount}=8000(\frac{11}{10})^3$ $⇒\text{Total Amount}=8000(\frac{1331}{1000})$ $\therefore \text{Total Amount}=10648 $ Hence, the correct answer is Rs. 10,648.
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Question : Rs. 6000 is lent at the rate of 20% per annum on compound interest (compounded half yearly). What will be the compound interest of 18 months?
Option 1: Rs. 1825
Option 2: Rs. 1986
Option 3: Rs. 1876
Option 4: Rs. 2036
Question : If the 10 percent per annum rate of compound interest compounded yearly is equivalent to the x percent per annum rate of compound interest compounded half yearly, then what is the value (Approximate) of x?
Option 1: 6.25 percent
Option 2: 5.32 percent
Option 3: 4.88 percent
Option 4: 4.55 percent
Question : The compound interest on Rs. 12000 for 9 months at 20% per annum, interest being compounded quarterly is:
Option 1: Rs. 1,750
Option 2: Rs. 2,089.70
Option 3: Rs. 1,891.50
Option 4: Rs. 2,136.40
Question : A sum of INR 10,000 was invested at a rate of 10% per annum for 2 years, compounded half-yearly. Find the compound interest.
Option 1: 2,151.0625
Option 2: 2,055
Option 3: 2,255
Option 4: 2,155.0625
Question : At what rate of compound interest (compounding annually) per annum will a sum of Rs. 1,000 become Rs. 1,060.90 in 2 years?
Option 1: 2% per annum
Option 2: 4% per annum
Option 3: 3% per annum
Option 4: 5% per annum
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