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With duration of 3 years, an increase in interest rates by 1%, the price of the bond will fall by 3%. As such the new price of bond = 530 – (3% of 530) = 514.1
If the ratio of the sum invested and simple interest received after 1 year is 25:14 respectively, then find the rate of interest.
If a sum of Rs. 6,500 is to be borrowed for 2 years at 10% per annum compounded half-yearly, find the compound amount (integer values only).
Rs.700 amounts to Rs.742 in 2 years at a certain rate. If interest rate is increased by 2%, then what will be the new interest?