ADDITIONAL QUESTION BANK Q.2
Q.2) The compound interest on half-yearly rests on ₹10,000 the rate for the first and second years being 6% and for the third year 9% p.a. is `.____________.
Q.2) The compound interest on half-yearly rests on ₹10,000 the rate for the first and second years being 6% and for the third year 9% p.a. is `.____________.
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Correct
P = 10000 , R1 = R2 = 6%, R3 = 9% , N = 3 years.
As the interest is calculated half yearly , we use the formula to calculate A as
Now CI = A - P
= 12290.84 - 10000
= 2290.84
Which does not match with any options given, so (d) none is correct answer.
ans: (d)