Please Help: BANKING
Posted Date : 02-Aug-2014 , 06:01:26 pm | Posted By ANIL KUMAR KHATTER
WHICH INTEREST RATE IS BETTER AND WHY---9.15% P.A. FOR 365 DAYS OR 9.15% FOR 444 DAYS
Category : Banking | Answers : 1 | Comments : 3 | Hits : 312
Answers:
Answer By: AKHIL MAHESHWARI
Dear Anil, 9.15 percent p.a. for 365 days is the better interest rate than the even for 444 days, because you will be having Rs. 9.15 on each Rs. 100 after 365 days to invest back to gain another 9.15 percent if the interest calculation is not compounded daily. But, if compounded daily, even the answer is same, as you will have your amount early with same gain and you can invest in a better portfolio, a time gain.
Comments
AKHIL MAHESHWARI
05-Aug-2014 , 06:45:47 pmDear Anil, 9.15% p.a. for 365 days is the better interest rate than the even for 444 days
ca vinayjain
20-Dec-2014 , 01:00:41 pmYour query if it means that you will get 9.15% for 444 , then definetely previous option of getting 9.15% P.A is better . If you have forgotten to put PA in second option of 414 days then also the rate in first and second option would be same .You will get the same amount in both options after 365 days .
Ramniwas bairwa
25-Dec-2014 , 04:23:26 pm