BANKING GENERAL KNOWLEDGE
|
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
|
When calculatinginterest, how do you write the percent?
|
|
a fraction
|
|
|
a decimal
|
|
|
a round number
|
|
|
not enough information
|
Explanation:
Detailed explanation-1: -To convert a given percentage rate to decimal form, you simply move the decimal point two places to the left. In our example, when interest is compounded annually, we have an interest rate of 1.7%. To convert to decimal form, we move the decimal two places to the left to get 0.017. Thus, r = 0.017.
Detailed explanation-2: -What is 12% in decimal form? 12% is equal to 12/100 = 0.12, in decimal form.
Detailed explanation-3: -To change a percent to a decimal we divide by 100. This is the same as moving the decimal point two places to the left. For example, 15% is equivalent to the decimal 0.15.
There is 1 question to complete.