Question
Rahul invested ₹4,000 in a
scheme offering a compound interest rate of 16% per annum, compounded semi-annually. Calculate the total interest earned by him in 24 months.Solution
ATQ,
Effective Rate: 16/2 = 8% per 6 months. Number of Periods: 24/6 = 4. Compound Interest Formula 
Substitute values: A = 4000×(1.08)4 = 4000×1.3605 = ₹5,442.
Interest Earned = A−P = ₹5,442−₹4,000 = ₹1,442.
Which countries will host the FIFA World Cup in 2030?
Recently Tulika Maan won a silver medal at the Birmingham Commonwealth Games. She is associated with which sport?
What ambitious goal has Uttar Pradesh set in its green hydrogen policy by 2028?
Which of the following NBFCs was ordered by RBI to stop lending due to regulatory violations recently (Oct 2024)?
According to the World Happiness Report 2023, which country is the happiest country in the world?
________ has entered into a strategic partnership with Zoho to accelerate the digital transformation of firms across the technology ecosystem.
Who will receive this year's Immigrant Achievement Award for their contributions to higher education in the US?
Who is the author of the recently released Queen of Fire book?
Which of the following is NOT a focus area of the five-year action plan between India and Poland?
Which bank is implementing interoperability between United Payment Interface and Central Bank Digital Currency through which customers can now transact ...
Relevant for Exams:
