Compound Interest

Quantitative Aptitude ( CCS)

Title

45:30

8 of 24 completed

5 of 15 completed

38 of 100 completed

8 of 20 completed

Indian Economy - Understanding the basics of Indian economic system

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

2422

2252

2522

2722

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.

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

Hence, option 3 is the correct answer.