InterviewSolution
Saved Bookmarks
| 1. |
How much will Rs. 25,000 invested at compound interest amount to in 1 year at 4% per annum compounded half yearly?1. Rs. 25,9802. Rs. 26,0103. Rs. 26,1004. Rs. 26,001 |
|
Answer» Correct Answer - Option 2 : Rs. 26,010 Given: Principle is 25000 Rate is 4% Time is 1 year and CI is calculated Half Yearly Formula Used: Compound Interest (CI) = P × (1 + R/100)n Calculation: CI is calculated Half Yearly so Rate = 4/2 = 2 % ⇒ Time becomes 2 years ⇒ CI in 2 years = 25000 × (1 + 2/100)2 = 26010 |
|