Question
A bank offers interest at the rate of 10% per annum,
compounded half yearly. Find the interest received at the end of the year on a sum of Rs. 30000.Solution
ATQ,
Effective rate of interest = 10 × (6/12) = 5%
Effective time or number of terms = 2 half years
Or, amount received = 30000 × {1 + (5/100)}² = 30000 × (105/100) × (105/100) = Rs. 33075
Therefore, interest received = 33075 - 30000 = Rs. 3075
Consider the following statement about “SATHI Initiative".
1. It is an initiative by the Department of Higher Education
2. Centre’...
Who retained the title of Asia’s richest person according to the Hurun Global Rich List 2024?
Which of the statements given is/are correct about Badis species:
1. It is a freshwater fish species found in Nagaland
2. It is called...
In the RBI’s circular on hedging foreign exchange risk, what is the maximum notional amount for derivative contracts involving INR without requiring u...
Which major national steel manufacturer in India is set to launch the state's premier floating solar project?
The Indian Coast Guard (ICG) recently conducted its second bilateral meeting with _________ Coast Guard in New Delhi.
What was the theme for World Earth Day 2024?
Hebbe Waterfall is located in which Indian state?
When is Global family Day observed in India?
Where was the 20th ASEAN-India Economic Ministers' Meeting held?
