IGCSE/GCSE/O & A Level/IB/University Student Forum

Qualification => Subject Doubts => IGCSE/ GCSE => Math => Topic started by: rainbowtiara24 on May 09, 2011, 05:24:22 am

Title: Urgent doubt!
Post by: 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 ????

Title: Re: Urgent doubt!
Post by: NotAbod on May 09, 2011, 07:23:14 am

Quote from: princess12 on May 09, 2011, 06:07:25 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!!!

Title: Re: Urgent doubt!
Post by: SauD~ on May 10, 2011, 01:44:18 pm

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 ????

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

Title: Re: Urgent doubt!
Post by: 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 % ?

Title: Re: Urgent doubt!
Post by: SauD~ on May 14, 2011, 11:10:16 am

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 % ?

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

Title: Re: Urgent doubt!
Post by: rainbowtiara24 on May 15, 2011, 04:04:59 am

Thank you ! good luck ! :)

Title: Re: Urgent doubt!
Post by: SauD~ on May 15, 2011, 10:01:02 am

Quote from: rainbowtiara24 on May 15, 2011, 04:04:59 am

Thank you ! good luck ! :)

Welcomez :)