what is the difference of the CI and si on rupees 16000 at the rate of interest 5 % per annum compounded half yearly for 1-1/2 years
Answers
Answered by
0
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 monthly
Effective 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
Similar questions