The effective annual rate of interest corresponding to a nominal rate of 6% per annum payable half-yearly is:
Correct answer D. 6.09%
Tip: press A, B, C or D to answer, and N for the next question.
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More Compound Interest questions
See allAlbert invested an amount of Rs. 8000 in a fixed deposit scheme for 2 years at compound interest rate 5 p.c.p.a. How much amount will Albert get on maturity of the fixed deposit?
Correct answer C. Rs. 8820
The least number of complete years in which a sum of money put out at 20% compound interest will be more than doubled is:
Correct answer B. 4
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At what rate of compound interest per annum will a sum of Rs. 1200 become Rs. 1348.32 in 2 years?
Correct answer A. 6%
What will be the compound interest on a sum of Rs. 25,000 after 3 years at the rate of 12 p.c.p.a.?
Correct answer C. Rs. 10123.20
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