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
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Correct Answer: INR 3,310
Solution : Given: Principal = INR 10,000 The rate compounded half yearly, so the rate will be $\frac{20}{2}=10$% Time will be 1.5 × 2 = 3 $\text{Total Amount}=\text{Principal}×(1+\frac{\text{Rate}}{100})^{\text{Time}}$ ⇒ Compound interest = $10000(1+\frac{10}{100})^3-10000$ ⇒ Compound interest = $10000[(\frac{11}{10})^3-1]$ ⇒ Compound interest = $10000[(\frac{1331-1000}{1000})]$ ⇒ Compound interest = $10000[(\frac{331}{1000})]$ ⇒ Compound interest = $3310$ Hence, the correct answer is INR 3,310.
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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 : 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 : What is the compound interest on INR 62,500 for 2 years at 8% per annum compounded yearly?
Option 1: INR 10,500
Option 2: INR 10,300
Option 3: INR 10,400
Option 4: INR 10,600
Question : What is the Compound interest on INR 25,000 for 3 years at 10% per annum compounded yearly?
Option 1: INR 8,125
Option 2: INR 8,000
Option 3: INR 8,200
Option 4: INR 8,275
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