Question : Amount of 2000 is deposited in a bank at an annual rate of interest of 8% p.a. What will be the approximate interest generated after 1.5 years if the interest is compounded every 3 months. ?
SI CI are something I have no idea about coz never tried to get an idea
I have been wondering why mocks were devoid of questions on CR and FIJ ? We might get questions on these topics in cat
Don't worry. SI/ CI murder the purity and beauty of mathematics. They were invented by devious, immoral and treacherous bankers to fool people. I hate finance ..
Question : Amount of 2000 is deposited in a bank at an annual rate of interest of 8% p.a. What will be the approximate interest generated after 1.5 years if the interest is compounded every 3 months. ?
Don't worry. SI/ CI murder the purity and beauty of mathematics. They were invented by devious, immoral and treacherous bankers to fool people. I hate finance ..
Exactly, in fact what you said encompasses the whole of arithmetic. I just remembered a line, Torture numbers, and they will confess to anything, ----so valid for arithmetic :P
Is the answer to your coined Q---->1173.74
used the concept of compounded growth rate to do it π
Exactly, in fact what you said encompasses the whole of arithmetic. I just remembered a line, Torture numbers, and they will confess to anything, ----so valid for arithmetic
Is the answer to your coined Q---->1173.74
used the concept of compounded growth rate to do it
How can the answer be more than 50% of the principal amount ? 8% is the interest rate. For one year, it will be 160, for one and the half year, it should be close to 160 + 80 = 240.. I am getting 252.32.. Check the post above π
I don't know whether the answer is correct or not.
12/k times a year means...... shouldn't 12/k be equal to 4 ? (as it is given every three months, means 4 times a year), and if that is true k should be 3 but you have taken 4.