Tech Mahindra
Company
Numerical Ability
Simple & Compound Interest
Compound interest of Rs.3000 at 10% per annum for 1 l/2years will be (interest compounded half yearly).
a) Rs.473
b) Rs.374
c) Rs.495
d) Rs.347
e) None of the above
Read Solution (Total 2)
-
- a) Rs 473
10% interest per annum will be 5% interest half yearly for 3 terms( 1 1/2 years)
So compound interest=3000[1+(5/100)]^3 - 3000=3000[(21/20)^3 -1]
=3000(9261-8000)/8000
=3*1261/8
=472.8 ~ 473 - 8 years agoHelpfull: Yes(10) No(0)
- When interest is compounded Half-yearly:
Amount = P (1 + (R/2)/100)^2n
= 3000(1+(1/20))^2(3/2)
=3000(21/20) ^3
=3000(21/20*21/20*21/20)
=0.375*21*21*21
=3472.875
C.I= 3472.875-3000
= 472.875
= ~473(APPOXIMATELY)
- 7 years agoHelpfull: Yes(0) No(0)
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