Question : Find the amount payable on maturity if INR 20,00,000 is invested at 12% per annum for $\frac{3}{2}$ years and interest is compounded half-yearly.
Option 1: INR 23,00,832
Option 2: INR 23,82,032
Option 3: INR 24,00,000
Option 4: INR 23,00,000
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Correct Answer: INR 23,82,032
Solution : Given: Principal = INR 20,00,000 Rate = 12% per annum Time = $\frac{3}{2}$ years = 1.5 years As given in the question, interest is compounded half-yearly. $\therefore$ Rate = $\frac{12}{2}$ = 6%. Time = 1.5 × 2 = 3 years The amount payable on maturity = $\text{Principal}×(1+\frac{\text{Rate}}{100})^{\text{Time}}$ = $2000000(1+\frac{6}{100})^3$ = $2000000\times(\frac{106}{100})^3$ = $2000000\times\frac{53}{50}\times\frac{53}{50}\times\frac{53}{50}$ = $2382032$ Hence, the correct answer is INR 23,82,032.
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Question : A sum invested at a certain rate of interest per annum, compounded annually, amounts to INR 3,600 in 2 years and to INR 6,480 in 4 years. What is the sum invested?
Option 1: INR 2,500
Option 2: INR 2,000
Option 3: INR 2,400
Option 4: INR 3,600
Question : A sum invested at a certain rate of interest per annum, compounded annually, amounts to INR 14,400 in 2 years and to INR 25,920 in 4 years. What is the sum invested?
Option 1: INR 8,200
Option 2: INR 7,500
Option 3: INR 8,500
Option 4: INR 8,000
Question : A sum, when invested for 2 years at the rate of 10% per annum at simple interest, amounts to INR 4,800 on maturity. What is the sum invested?
Option 1: INR 3,600
Option 2: INR 4,000
Option 3: INR 3,500
Option 4: INR 4,200
Question : Ram invested 45% of his salary in a scheme for 3 years which offers 10% per annum compound interest, compounded annually. If he receives INR 5,958 as total interest, then find Ram's salary.
Option 1: INR 45,000
Option 2: INR 50,000
Option 3: INR 36,000
Option 4: INR 40,000
Question : What is the interest payable on INR 12,000 for 3 months at the rate of 10% per annum, if interest is compounded quarterly?
Option 1: INR 250
Option 2: INR 200
Option 3: INR 300
Option 4: INR 350
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