Author Topic: Urgent doubt!  (Read 3315 times)

Offline rainbowtiara24

  • Newbie
  • *
  • Posts: 44
  • Reputation: 2380
  • Gender: Female
Urgent doubt!
« 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 ????

Offline NotAbod

  • Wikipedia Contributor
  • Global Moderator
  • SF Farseer
  • *****
  • Posts: 3929
  • Reputation: 65535
  • Gender: Male
Re: Urgent doubt!
« Reply #1 on: May 09, 2011, 07:23:14 am »
we donot have to convert in years
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!!!

Offline SauD~

  • Chére
  • SF V.I.P
  • ********
  • Posts: 8629
  • Reputation: 65535
  • Gender: Male
  • ~ I wish my dream comes true ~
Re: Urgent doubt!
« Reply #2 on: May 10, 2011, 01:44:18 pm »
When they ask us to calculate compound interest for 3 months do we convert it into years ????
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

Offline rainbowtiara24

  • Newbie
  • *
  • Posts: 44
  • Reputation: 2380
  • Gender: Female
Re: Urgent doubt!
« Reply #3 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 % ?

Offline SauD~

  • Chére
  • SF V.I.P
  • ********
  • Posts: 8629
  • Reputation: 65535
  • Gender: Male
  • ~ I wish my dream comes true ~
Re: Urgent doubt!
« Reply #4 on: May 14, 2011, 11:10:16 am »
Luck was on my side ! ;) but what if they don't mention anything like just say 3 % ?
They would definitely mention that... it would be either like 3% annually or 3% monthly or 3% per annum or etc :)

Offline rainbowtiara24

  • Newbie
  • *
  • Posts: 44
  • Reputation: 2380
  • Gender: Female
Re: Urgent doubt!
« Reply #5 on: May 15, 2011, 04:04:59 am »
Thank you ! good luck ! :)

Offline SauD~

  • Chére
  • SF V.I.P
  • ********
  • Posts: 8629
  • Reputation: 65535
  • Gender: Male
  • ~ I wish my dream comes true ~
Re: Urgent doubt!
« Reply #6 on: May 15, 2011, 10:01:02 am »