Aptitude | Compound Interest | Question 11

Find the compound interest on Rs. 15,000 for 9 months at 16% per annum compounded quarterly.
(A) 1872.96
(B) 1972.96
(C) 2072.96
(D) 2172.96


Answer: (A)

Explanation: CI = 15000[1+(16/4)/100]4X(9/12) -15000
= 15000[104/100]3 – 15000
= 15000 [1.125-1]
= 15000 X 0.125
= 1872.96

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