ECONOMICS
COMPOUND INTEREST
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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876
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1095
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1096
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365
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Detailed explanation-1: -It is calculated by multiplying the first principal amount by one and adding the annual interest rate raised to the number of compound periods subtract one. The total initial amount of your loan is then subtracted from the resulting value. P is principal, I is the interest rate, n is the number of compounding periods.
Detailed explanation-2: -compounded, annually at the rate of 10% p.a. for 3 years is Rs 331. Q.
Detailed explanation-3: -Daily Interest Rate: Ending Investment = Start Amount * (1 + Interest Rate) ^ n. To calculate daily compound interest, the interest rate will be divided by 365, and the number of years (n) will be multiplied by 365. Compounded Monthly: CI = P(1 + (r/12) )12t – P. P is the principal amount.