Mathematics
NULL
Medium
Question
Find the CI on Rs.16000 for 9 months at 20% p.a., interest compounded quarterly.
A
Rs.17684
B
Rs.1684
C
Rs.2522
✓ Official correct answer
D
Rs.3408
Community credibility
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A
Rs.17684
No member explanations yet for this option.
B
Rs.1684
No member explanations yet for this option.
C
Rs.2522
No member explanations yet for this option.
D
Rs.3408
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Explanation
Quarterly rate = 5%; 3 quarters. CI = 16000 × ((1.05)³ − 1) = Rs.2522.