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21 Jul 2019, 03:16
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B
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A bank offers a rate of interest of 16% per annum, compounded semi-annually. What will be the approximate interest generated on an amount of Rs. 10,000 kept for 2 years?
1. Rs 3600
2. Rs 3605
3. Rs 3610
4. Rs 3615
5. Rs 3620
1. Rs 3600
2. Rs 3605
3. Rs 3610
4. Rs 3615
5. Rs 3620
21 Jul 2019, 05:36
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Interest = 10000*(((1+(0.16/2))^(2*2))-10000 = 3604.88 so answer will be 3605 B
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