At what rate per annum rs. 32000 will give an interest of 5044/- in a time period of 9 months when the interest is compounded quarterly? A
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"The answer to this question is option A, which is 20%.
We are rate the CI rate as R% per annum. The formula of CI is given below.
The rate of interest is quarterly compounded. Once we substituted the value, we can get the following step.
R/400 = 1/20
R = 400/20
R = 20%
Therefore, the option A is the right answer.
"
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