Arithmetic Ability
Compound Interest

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Q.

Find the compound interest on Rs.16,000 at 20% per annum for 9 months, compounded quartely.

View Answer

Correct choice: A

Explanation:

Principal = Rs.16,000; Time=9 months = 3 quarters; Amount =Rs.[16000x(1+5/100)³] =[16000x21/20x21/20x21/20] = Rs.18522. C.I = Rs.(18522 - 16000) = Rs.2522.
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