Multiple Choice Questions on What is the compound interest on Rs 28000 at 20 per annum for 3 months compounded quarterly ........ for CDS Exam Preparation

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Multiple Choice Questions

What is the compound interest on Rs 28000 at 20 per annum for 3 months compounded quarterly ........

Quantitative Aptitude (CDS) Compound Interest
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    What is the compound interest on Rs.28000 at 20% per annum for 3 months, compounded quarterly?

     

    Rs.2300
     

    Incorrect Answer

    Rs.1400
     

    Correct Answer

    Rs.2900
     

    Incorrect Answer

    Rs.3400

    Incorrect Answer
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    Explanation:

    Principal =Rs.28000

    Since compounded quarterly
    Times= 1 yr  
    Rate= 5% 
    Amount=Rs.[28000×{1+5/100)^1}]
    =Rs.29400
    Compound interest=Rs.(29400-28000)
    =Rs.1400

    By: bhavesh kumar singh
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