A. Rs 6.06%
B. Rs 6.07%
C. Rs 6.08%
D. Rs 6.09%
Explanation:
Let the sum be Rs 100.
Then P = Rs 100, R = 3 %
per half – year, t = 2 half – years
Amount = Rs [100 × (1 + 3/100)2]
= Rs (100 × 103/100 × 103/100)
= Rs 10609/100 = Rs 106.09
Effective Annual Rate = 6.09%
Related Mcqs:
- The effective annual rate of interest corresponding to a nominal rate of 6% per annum payable half-yearly is________?
A. 6.06%
B. 6.07%
C. 6.08%
D. 6.09% - How much more would Rs.20000 fetch, after two years, if it is put at 20% p.a. compound interest payable half yearly than if is put at 20% p.a. compound interest payable yearly?
A. Rs.482
B. Rs.424
C. Rs.842
D. Rs.512 - A sum of money is put out at compound interest for 2 years at 20%. It would fetch Rs.482 more if the interest were payable half-yearly, then it were pay able yearly. Find the sum.
A. Rs.4000
B. Rs.1000
C. Rs.1250
D. Rs.2000 - If the rate of interest be 4% per annum for first year 5% per annum for the second year and 6% per annum from the third year then the compound interest of Rs 10000 for 3 years will be_________?
A. Rs 1575.20
B. Rs 1600
C. Rs 1625.80
D. Rs 2000 - Simple interest on a certain sum of money for 3 years at 8% per annum is half the compound interest on Rs. 4000 for 2 years at 10% per annum. The sum placed on simple interest is:_______?
A. Rs. 1550
B. Rs. 1650
C. Rs. 1750
D. Rs. 2000 - What is the difference between the C.I. on Rs. 5000 for 1 1/2 years at 4% per annum compounded yearly and half-yearly?
A. Rs. 2.04
B. Rs. 3.06
C. Rs. 4.80
D. Rs. 8.30 - A man invests a certain sum of money at 6% per annum simple interest and another sum at 7% per annum simple interest. His income from interest after 2 years was Rs. 354. One-forth of the first sum is equal to one-fifth of the second sum. The total sum invested was :
A. Rs.3100
B. Rs.2700
C. Rs.2200
D. Rs.1800 - The difference between simple and compound interest on Rs. 1200 for one year at 10% per annum reckoned half-yearly is________?
A. Rs. 2.50
B. Rs. 3
C. Rs. 3.75
D. Rs. 4 - The difference between simple interest and compound on Rs. 1200 for one year at 10% per annum reckoned half-yearly is:________?
A. Rs. 2.50
B. Rs. 3
C. Rs. 3.75
D. Rs. 4 - Hafeez invested Rs. 15000 @ 10% per annum for one year. If the interest is compounded half-yearly, then the amount received by Hafeez at the end of the year will be?
A. Rs. 16,500
B. Rs. 16,525.50
C. Rs. 16,537.50
D. Rs. 18,150
