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what is the interest rate for 16000 Rupees at 12 and a half percentage for one year what would be the interest if the interest rate is 6 and 1 by 4 |
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Answer» It is calculated as under -Interest RATE PER ANNUM - 10%No of rests per annum - 1 for annual, 2 for half YEAR, 4 for Quarterly and 12 for monthlyEffective interest per rest - Per annum Interest rate divide by no of rest per annum - 10/2 = 5%Rest PERIOD in known time - 1–1/2 years / 6 months = 3Interest = Principal x (1+Effective interest rate) raised to power 3 - Principal AmountHope this helps you Tell this through comments |
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