Multiple Choice Questions on Find the CI if Rs 1000 was invested for 1 5 years at 20 p a compounded half yearly ........ for Mathematics - All Exams Preparation

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Multiple Choice Questions

Find the CI if Rs 1000 was invested for 1 5 years at 20 p a compounded half yearly ........

Quantitative Aptitude ( CCS) Compound Interest
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    Find the CI, if Rs 1000 was invested for 1.5 years at 20% p.a. compounded half yearly.

    325 

    Incorrect Answer

    331

    Correct Answer

    336

    Incorrect Answer

    384

    Incorrect Answer
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    Explanation:

     As it is said that the interest is compounded half yearly. So, the rate of interest will be halved and time will be doubled.
    CI = P [1+(R/100)]n - P
    CI = 1000 [1+(10/100)]3- 1000
    On Solving, we get
    CI = Rs. 331

    By: MIRZA SADDAM HUSSAIN
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