Menu
Home / Arithmetic Aptitude / Compound Interest :: Discussion

Discussion :: Compound Interest

  1. The effective annual rate of interest corresponding to a nominal rate of 6% per annum payable half-yearly is:

    2. A.

    6.06%
    B.

    6.07%
    C.

    6.08%
    D.

    6.09%

    View Answer

    Workspace

    View Answer

    Answer : Option D

    Explanation :

    Amount of Rs. 100 for 1 year when compounded half-yearly     = Rs.[100\(*(1+(\frac { 3 } { 100 } )^2\)]

     

        Effective rate = (106.09 - 100)% = 6.09%

     

Write your comments here:

Be The First To Comment