Question : Find the amount (integral value only) if a sum of INR 6,500 is being borrowed at 10% interest per annum for 2 years if interest is compounded half-yearly.
Option 1: INR 8,250
Option 2: INR 7,650
Option 3: INR 8,150
Option 4: INR 7,900
Correct Answer: INR 7,900
Solution : $A=P\times [1+\frac{R}{100}]^{n}$, where $A$, $P$, $R$, $n$, and $T$ are the amount, principal, the rate is half and n = 4 in two years, respectively. According to the question, $A=6500\times [1+\frac{5}{100}]^{2\times 2}$ ⇒ $A=6500\times [1+0.05]^{4}$ ⇒ $A=6500\times [1.05]^{4}$ $\therefore$ $A=$ INR 7,900 Hence, the correct answer is INR 7,900.
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Question : The compound interest on a certain sum invested for 2 years at 10% per annum is INR 1,522.50, the interest being compounded yearly. The sum is:
Option 1: INR 7,250
Option 2: INR 7,200
Option 3: INR 7,500
Option 4: INR 7,000
Question : A sum amounts to INR 7,562 in 4 years and to INR 8,469.44 in 5 years, at a certain rate per cent per annum when the interest is compounded yearly. If INR 10,000 at the same rate of interest is borrowed for two years, then what will be the compound interest (in INR)?
Option 1: 2,544
Option 2: 1,736
Option 3: 2,764
Option 4: 1,965
Question : What is the compound interest on a sum of INR 25,000 after three years at a rate of 12% per annum interest compounded yearly?
Option 1: INR 9,824.00
Option 2: INR 10,520.00
Option 3: INR 9,956.86
Option 4: INR 10,123.20
Question : A sum of money was invested at 10% interest per year, compounded half-yearly, for 18 months. If the amount payable on maturity was INR 64,827, what was the sum invested?
Option 1: INR 55,600
Option 2: INR 56,000
Option 3: INR 56,800
Option 4: INR 56,500
Question : At what time will Rs. 64000 amount to Rs. 68921 at 5% per annum, with interest being compounded half-yearly?
Option 1: $3$ years
Option 2: $2\frac{1}{2}$ years
Option 3: $2$ years
Option 4: $1\frac{1}{2}$ years
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