Mathematics
NULL
Medium
Question
Find the CI on Rs.16000 for 9 months at 20% p.a. compounded quarterly.
A
Rs 2518
B
Rs 2520
C
Rs 2522
✓ Official correct answer
D
Rs 2524
Community credibility
Registered members can vote for the answer they believe is correct today and explain why. If the facts change after an election or news event, suggest a new option so others can vote it up.
A
Rs 2518
No member explanations yet for this option.
B
Rs 2520
No member explanations yet for this option.
C
Rs 2522
No member explanations yet for this option.
D
Rs 2524
No member explanations yet for this option.
Explanation
Quarterly rate = 5%; 3 quarters. CI = 16000 × ((1.05)³ − 1) = Rs.2522.