Compound Interest Time in Fractions
Compound Interest Time in Fractions
Calculating Compound Interest When Time is Given in Fractions: When time is given as improper fraction, we first convert it into mixed fraction. The wehole number is used as its in the formula for compound Interest. and for the fraction part we will divide the rate with the fraction. Let the principal be P and Rate is considered as R and suppose the time period is 15/4 years. then For Example:Reena borrowed 16000 at 12% rate of interest 4/3 years. Calculate the amount she had to pay in the end. P= 16000 Rs R= 12 % T= 4/3 = | |||||||||
Find the compound interest on Rs 24,000 at 15% p.a for | |||
| Right Option : D | |||
| View Explanation | |||
Find the amount if Rs 2500 at rate of interest 6 % when time period is 1 year 4 months. The amount is compounded annually | |||
| Right Option : C | |||
| View Explanation | |||
Find the compound interest on an amount of Rs 5000 at rate of interest 5 % when time period is 1 year 3 months. The amount is compounded annually | |||
| Right Option : D | |||
| View Explanation | |||
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