Mathematics for FinanceMTP Jun 22Question 1353 of 479
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Find the effective rate of interest if an amount of 30,000\displaystyle 30,000 deposited in a bank. For 1\displaystyle 1 year at the rate of 10%\displaystyle 10\% p.a. compounded semi-annually.

Options

A10.05%\displaystyle 10.05\%
B10.10%\displaystyle 10.10\%
C10.20%\displaystyle 10.20\%
D10.25%\displaystyle 10.25\%
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Correct Answer

Option a10.05%\displaystyle 10.05\%

All Options:

  • A10.05%\displaystyle 10.05\%
  • B10.10%\displaystyle 10.10\%
  • C10.20%\displaystyle 10.20\%
  • D10.25%\displaystyle 10.25\%

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