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Question
In compound interest, when the interest is compounded half-yearly, the principal changes every
In compound interest, when the interest is compounded half-yearly, the principal changes every
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Solution
The correct option is B 6 months
When the interest is compounded half yearly, there are two conversion periods in a year, each after 6 months. In such a case, the half yearly rate will be half of the annual rate.
When the interest is compounded half yearly, there are two conversion periods in a year, each after 6 months. In such a case, the half yearly rate will be half of the annual rate.
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