Question
The compound interest on Rs.6,000 at 10% per annum for 1$1/2$ years, when the interest being compounded annually, is
Answer: Option C
Answer: (c)Amount = 6000$(1 + 10/100) × (1 + {{1/2} × 10}/100)$= $6000 × 11/10 × 21/20$ = Rs.6930Using Rule 4,If the time is in fractional form i.e.,t = nF, thenA = P$(1 + r/100)^n(1 + {rF}/100)$e.g. t =3$5/7$ yrs, thenA = P$(1 + r/100)^3(1 + r/100 × 5/7)$
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Answer: (c)Amount = 6000$(1 + 10/100) × (1 + {{1/2} × 10}/100)$= $6000 × 11/10 × 21/20$ = Rs.6930Using Rule 4,If the time is in fractional form i.e.,t = nF, thenA = P$(1 + r/100)^n(1 + {rF}/100)$e.g. t =3$5/7$ yrs, thenA = P$(1 + r/100)^3(1 + r/100 × 5/7)$
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