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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%
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
10%
Answers (1)
for this take 100 as principal
R = 10 % and half yearly rate will be 5 %
5+5+0.25 = 10.25
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