What will be the compound interest(in Rs)on a sum of Rs 31,250 for 2 y
| What will be the compound interest(in Rs)on a sum of Rs 31,250 for 2 years at 12% p. A. if the interest is compounded 8-monthly?
A. 8,106
B. 8,116
C. 8,156
D. 8,016
Right Answer is: B
SOLUTION
Rate interest for 12 months = 12%
Rate interest for 8 months = 8%
Total time = 24 months
= 3 × 8 months
P + Compound Interest
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What will be the compound interest(in Rs)on a sum of Rs 31,250 for 2 y