Advertisements
Advertisements
Question
A sum is taken for two years at 16% p.a. If interest is compounded after every three months, the number of times for which interest is charged in 2 years is ______.
Options
8
4
6
9
Advertisements
Solution
A sum is taken for two years at 16% p.a. If interest is compounded after every three months, the number of times for which interest is charged in 2 years is 8.
Explanation:
Since, rate of interest is calculated after every three months.
Similarly, the time period for amount in a year will 4 times.
If amount is taken for 2 years, means 4 × 2 = 8 times charged in 2 years.
Hence, 8
APPEARS IN
RELATED QUESTIONS
Calculate the amount and compound interest on Rs 8000 for 1 year at 9% per annum compound half yearly. (You could use the year by year calculation using SI formula to verify)
Rachana borrowed a certain sum at the rate of 15% per annum. If she paid at the end of two years Rs 1290 as interest compounded annually, find the sum she borrowed.
A certain sum of money is put at compound interest, compounded half-yearly. If the interest for two successive half-years are Rs. 650 and Rs. 760.50; find the rate of interest.
A certain sum amounts to Rs. 5,292 in two years and Rs. 5,556.60 in three years, interest being compounded annually. Find : the rate of interest.
Geeta borrowed Rs. 15,000 for 18 months at a certain rate of interest compounded semi-annually. If at the end of six months it amounted to Rs. 15,600; calculate :
(i) the rate of interest per annum.
(ii) the total amount of money that Geeta must pay at the end of 18 months in order to clear the account.
The cost of a machine depreciated by Rs. 4,000 during the first year and by Rs. 3,600 during the second year. Calculate :
- The rate of depreciation.
- The original cost of the machine.
- Its cost at the end of the third year.
The difference between C.I. payable annually and S.I. on Rs.50,000 for two years is Rs.125 at the same rate of interest per annum. Find the rate of interest.
The time taken for ₹ 1000 to become ₹ 1331 at 20% p.a, compounded annually is 3 years
The compound interest on Rs 50,000 at 4% per annum for 2 years compounded annually is ______.
