general math MCQ #265

The Compound interest on Rs 16000 for 9 months at 20% P.a compounded quarterly is:__________?

general math MCQ #265

  1. Question 1

    Q1. The Compound interest on Rs 16000 for 9 months at 20% P.a compounded quarterly is:__________?

    • A) Rs2,518
    • B) Rs2,520
    • C) Rs2,522
    • D) Rs2,524

    Answer: Rs2,522

    Explanation: Rate per quarter = 5%; 9 months = 3 quarters; amount = 16000×(1.05)³ = 18522; CI = Rs. 2522.