Qualification > Math

Urgent doubt!

(1/2) > >>

rainbowtiara24:
When they ask us to calculate compound interest for 3 months do we convert it into years ????

NotAbod:

--- Quote from: princess12 on May 09, 2011, 06:07:25 am ---we donot have to convert in years

--- End quote ---
we do have to convert it to years!!!
divide 3 by 12
12 months :P
3/12 is 1/4 years
YOU HAVE TO CONVERT IT TO YEARS!!!

SauD~:

--- Quote from: rainbowtiara24 on May 09, 2011, 05:24:22 am ---When they ask us to calculate compound interest for 3 months do we convert it into years ????

--- End quote ---
sorry very late :P
But no worries question didn't came...

And No not always...
If in the question they mentioned 3% per annum.. then you have to use 3/12
and if the question comes 3% monthly... then you have to use 3 itself

rainbowtiara24:
Luck was on my side ! ;) but what if they don't mention anything like just say 3 % ?

SauD~:

--- Quote from: rainbowtiara24 on May 14, 2011, 07:59:43 am ---Luck was on my side ! ;) but what if they don't mention anything like just say 3 % ?

--- End quote ---
They would definitely mention that... it would be either like 3% annually or 3% monthly or 3% per annum or etc :)

Navigation

[0] Message Index

[#] Next page