Which of the following is the effective annual rate of interest corresponding to a compound interest rate of 9% per annum compounded half – yearly?
Which of the following is the effective annual rate of interest corresponding to a compound interest rate of 9% per annum compounded half – yearly?
निम्ननलिखित में से कौन सी प्रभावी वार्षिक ब्याज दर 9% प्रति वर्ष की अर्धवार्षिक चक्रवृद्धि ब्याज दर के अनुरुप है?
Detailed Solution & Logic
Correct Answer:
9.20%
Effective Annual Rate $= \left(1 + \dfrac{0.09}{2}\right)^2 - 1$
$= (1.045)^2 - 1$
$= 1.092025 - 1 = 0.092025$
Effective Annual Rate $= 9.20%$
Similar Practice Questions
From the salary of an officer, 10% is
From the salary of an officer, 10% is deducted as house rent. Of the remaining...
Two successive increases of 15% each,
Two successive increases of 15% each, is by what percentage more then the two successive...
How many natural numbers are there between $ 11^2 $ and $ 12^2 $ ?
How many natural numbers are there between $ 11^2 $ and $ 12^2 $ ?...
If the marked price of an article is ₹7,895
If the marked price of an article is ₹7,895 and the discount offered is 4.2%,...
A car covers four successive 8 km distances
A car covers four successive 8 km distances at speeds of 12 km/hr, 18 km/hr,...
The population of a town is 7,000.
The population of a town is 7,000. If the percentage increase in the male and...
A certain sum amounts to ₹4,620
A certain sum amounts to ₹4,620 after two years at a certain rate of simple...