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
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Correct Answer: INR 32,000
Solution : Given: Amount, $\mathrm{A = 5044}$ Rate of interest, $\mathrm{r = \frac{10}{2}=5}$% half yearly Period of compounding, $\mathrm{n = 2}$ Time, $\mathrm{t = 1.5}$ years Let the principal be $P$. We know that, $\mathrm{A = P \left(1 + \frac{r}{n}\right)^{nt} - P}$ $⇒\mathrm{5044 = P \left(1 + \frac{5}{100}\right)^{2 \times 1.5} - P}$ $⇒\mathrm{5044 = P (\frac{21}{20})^{3} - P}$ $⇒\mathrm{\frac{1261P}{8000}=5044}$ $⇒\mathrm{P =32000}$ Hence, the correct answer is INR 32,000.
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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 : What is the difference between the compound interest on INR 6,400 for 1 year at 5% per annum compounded yearly and half-yearly?
Option 1: INR 8
Option 2: INR 9
Option 3: INR 4
Option 4: INR 7
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 : A certain sum was invested at the rate of 10% for 2 years at Compound interest and compounded annually. The same sum was invested for the same period and the same rate of interest at Simple interest. If the difference between Compound interest and Simple interest was Rs. 200 find the sum.
Option 1: Rs. 30,000
Option 2: Rs. 25,000
Option 3: Rs. 22,000
Option 4: Rs. 20,000
Question : If the difference between the compound interest and simple interest on a certain sum of money for 3 years at the rate of 4% per annum is INR 76, then what is the sum?
Option 1: INR 16,725
Option 2: INR 12,925
Option 3: INR 15,625
Option 4: INR 18,825
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