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Find the effective rate of interest if the normal rate of interest is 10% p.a. and the interest is compounded every six months.

Option 1)
21.5%
Option 2)
10.25%
Option 3)
5.25%
Option 4)
11%
Option 5)
10%

Answers (1)

best_answer

for this take 100 as principal

R = 10 % and half yearly rate will be 5 %

5+5+0.25 = 10.25 %

Posted by

rishi.raj

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