What will be the compound interest on a sum of Rs.46875 for 2 years at 12% p.a., if the interest is compounded 8-monthly?
Answer & explanation
Correct answer: option 3
12 Months ⇒ 12%
8 Months ⇒ 8% = \(\frac{2}{25}\)
Principal : Amount
8 month 25 : 27
8 month 25 : 27
8 month 25 : 27
15625 : 19683 ⇒ 4058 (C.I.)
↓×3 ↓×3
46875 (given) 12174 Ans.