Question

The compound interest on 16000 Rs. for 9 months at 20% per annum, interest being compounded quarterly, is :
A. 2518 Rs.
B. 2520 Rs.
C. 2522 Rs.
D. 2524 Rs.

Answer 1

Answer-

C) 2522

Explanation-

P-16000 rs

time

months -3 quarters

rate-20 percent- 5 percent quarter

Amount- Rs(16000×(1+(5/100))3)

- 18522 Rs

C. J- Rs(18522-16000) =Rs 2522