Question

Calculate the CI on Rs.3500 at 6% p.a. per annum for 3 years, the interest is compounded half-yearly. Do not use mathematical tables. Use the necessary information from the following: (1.06)^3=1.191016; (1.03)^3=1.092727 (1.06)^6= 1.418519;(1.03)^6=1.94052 I will rate u...

Answer 1

Answer:

CI =((1+r/100)-1)

=(1+6/100)-1)

=((106/100)-1)

=106-100/100

6/100

3/50