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
Recommended: How to crack SSC CHSL | SSC CHSL exam guide
Don't Miss: Month-wise Current Affairs | Upcoming government exams
New: Unlock 10% OFF on PTE Academic. Use Code: 'C360SPL10'
Correct Answer: 2,155.0625
Solution : Given, Principal, $P=\mathrm{INR\ }10000,$ Rate, $r=10\%=0.10,$ As it compounded half-yearly, the time will be 2 × 2 = 4 years $\text{Total Amount, A}=\text{Principal}×(1+\frac{\text{Rate}}{100})^{\text{Time}}$ ⇒ $A=10000(1+\frac{\frac{10}{100}}{2})^{4}$ ⇒ $A=10000(\frac{21}{20})^4$ ⇒ $A=10000×\frac{441}{400}×\frac{441}{400}$ $\therefore A=12155.0625$ Now, Compound interest = Total amount – Principal = 12155.0625 – 10000 = INR 2,155.0625 Hence, the correct answer is 2,155.0625.
Candidates can download this e-book to give a boost to thier preparation.
Application | Eligibility | Admit Card | Answer Key | Preparation Tips | Result | Cutoff
Question : Compound interest on a certain sum of money invested for 1.5 years at the rate of 10% per annum, compounded half-yearly is INR 5,044. What is the sum?
Option 1: INR 32,000
Option 2: INR 37,044
Option 3: INR 33,000
Option 4: INR 22,000
Question : Find the Compound Interest on INR 10,000 for $1 \frac{1}{2}$ years at 20% per annum, interest is payable half-yearly.
Option 1: INR 3,315
Option 2: INR 3,310
Option 3: INR 3,305
Option 4: INR 3,320
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 : Find the compound interest on INR 50,000 for one year at 8% per annum when compounded half-yearly.
Option 1: INR 3,900
Option 2: INR 3,880
Option 3: INR 4,080
Option 4: INR 3,950
Question : What sum will become INR 9,826 in 18 months if the rate of interest is $2 \frac{1}{2} \%$ per annum and the interest is compounded half-yearly?
Option 1: INR 9,392.00
Option 2: INR 9,444.00
Option 3: INR 9,512.45
Option 4: INR 9,466.55
Regular exam updates, QnA, Predictors, College Applications & E-books now on your Mobile