Question : What will be the compound interest on Rs. 21000 at the rate of 10% per annum for 6 months compounded half-yearly?
Option 1: Rs. 1680
Option 2: Rs. 1050
Option 3: Rs. 1850
Option 4: Rs. 1250
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Correct Answer: Rs. 1050
Solution : The formula for the calculation of compound interest for half a year, $\text{Compound interest}=\text{Principal}×(1+\frac{\text{Rate}}{2×100})^{\text{2×Time}}-\text{Principal}$ $⇒\text{Compound interest}=21000×(1+\frac{\text{10}}{2×100})^{\text{2×0.5}}-21000$ $⇒\text{Compound interest}=21000×(1+\frac{\text{1}}{20})^{\text{1}}-21000$ $⇒\text{Compound interest}=21000×(\frac{\text{21}}{20})-21000$ $⇒\text{Compound interest}=22050-21000$ $\therefore\text{Compound interest}=1050$ Hence, the correct answer is Rs. 1050.
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Question : At what rate of compound interest per annum, a sum of Rs. 20,000 becomes Rs. 23,152.50 in 1 year and 6 months compounded half-yearly?
Option 1: 10% per annum
Option 2: 5% per annum
Option 3: 12% per annum
Option 4: 8% per annum
Question : What is the compound interest on Rs. 20000 at 10% per annum for 1 year 6 months, compounded half-yearly?
Option 1: Rs. 3215.5
Option 2: Rs. 3200
Option 3: Rs. 3152.5
Option 4: Rs. 3300
Question : Rs. 6000 is lent at the rate of 8% per annum on compound interest (compounded quarterly). What will be the compound interest of 6 months?
Option 1: Rs. 268.60
Option 2: Rs. 190.50
Option 3: Rs. 164.60
Option 4: Rs. 242.40
Question : The difference between the simple interest and the compound interest at the same rate for INR 32,000 for 2 years is 80. What is the rate of interest, if in the case of compound interest, interest is compounded annually?
Option 1: 8% per annum
Option 2: 2% per annum
Option 3: 5% per annum
Option 4: 12% per annum
Question : What is the difference between the compound interest and the simple interest on Rs. 2,000 at 10% interest per annum for 2 years, if, for compound interest, interest is compounded annually?
Option 1: Rs. 20
Option 2: Rs. 40
Option 3: Rs. 80
Option 4: Rs. 60
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