Home
Earn $100 Online Daily just answering survey. Click Here

What is the correct answer?

4

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

A. 2344

B. 2455

C. 3244

D. 2522

Share this question with your friends
Correct Answer :

D. 2522


               Principal = Rs. 16000; Time = 9 months =3 quarters;


                Rate = 20% per annum = 5% per quarter.


                Amount = Rs. [16000 x (1+(5/100))3] = Rs. 18522.


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

Related Questions

Also checkout

Visual Basic MCQ Classification MCQ Origin of Life and Organic Evolution MCQ Units, Dimensions and Errors MCQ Alphabetical Series MCQ Selenium automation MCQ Urologic infections and inflammations MCQ Automobile Engineering MCQ Hydrogen- Water and Hydrogen Peroxide MCQ Electric Current MCQ Steam Boilers, Engines, Nozzles & Turbines MCQ Machine Input Mi-set 2 MCQ