Question : In how many months will Rs. 8000 yield Rs. 2648 if compound interest at 20% per annum is compounded semi-annually?
Option 1: 18
Option 2: 24
Option 3: 12
Option 4: 30
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Correct Answer: 18
Solution : We have, $P$ = Rs. 8,000, $r$ = 20% and $t$ = 2 (compounded semi-annually). $A$ = $P$ + $\text{Interest}$ = Rs. 8000 + Rs. 2648 = Rs. 10,648. $A = P \left(1+\frac{\frac{r}{2}}{100}\right)^{2t}$ $⇒10648 = 8000 \left(1+\frac{\frac{20}{2}}{2}\right)^{2t}$ $⇒1.331 = \left(1.1\right)^{2t}$ $⇒(1.1)^3 = \left(1.1\right)^{2t}$ $⇒ 3 = 2t$ $⇒t=\frac{3}{2}$ or 18 months. Hence, the correct answer is 18.
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Question : In how many years will Rs. 2,000 yield Rs. 662 as a compound interest at 10% per annum compounded annually?
Option 1: 3
Option 2: 2
Option 3: 4
Option 4: 5
Question : The compound interest on Rs. 24000 at 10% per annum for $1\frac{1}{2}$ years, interest being compounded semi-annually is:
Option 1: Rs. 3783
Option 2: Rs. 3777
Option 3: Rs. 3780
Option 4: Rs. 3781
Question : The difference between Simple and Compound Interest (compounded annually) on Rs. 40,000 for 3 years at 8% per annum is:
Option 1: Rs. 684.32
Option 2: Rs. 788.48
Option 3: Rs. 784.58
Option 4: Rs. 4,000
Question : If a sum of Rs. 12,500 is invested for 1 year at 12% per annum interest is compounded semi-annually, then the interest earned is:
Option 1: Rs. 1,505
Option 2: Rs. 1,535
Option 3: Rs. 1,545
Option 4: Rs. 1,550
Question : On a certain principal, the compound interest compounded annually for the second year at 10% per annum is Rs. 132. The principal is:
Option 1: Rs. $1250$
Option 2: Rs. $1000$
Option 3: Rs. $1200$
Option 4: Rs. $1320$
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