What amount will be received on a sum of Rs. 15000 in 1 1/4 yr at 12% pa, if interest is compounded quarterly?


A) RS.16596.88

B) RS.16789.08

C) RS.17630.77

D) RS.17389.12

Correct Answer:
D) RS.17389.12

Description for Correct answer:

Given, P = RS. 15000, R = 12%

and n =\( \Large 1\frac{1}{4} \)=\( \Large \frac{5}{4}yr \)

According to the formula,

Amount =\( \Large P \left(1+\frac{R}{100\times 4}\right)^{4n} \)

=\( \Large 15000 \left(1+\frac{12}{100\times 4}\right)^{4\times 5/4} \)

=\( \Large 15000 \left(\frac{412}{400}\right)^{5} \)=\( \Large 15000 \left(\frac{103}{100}\right)^{5} \)

=\( \Large 15000\times 103/100\times 103/100\times 103/100\times 103/100\times 103/100 \)

=\( \Large \frac{15\times 103\times 103\times 103\times 103\times 103}{10000000} \)

= RS. 17389.111 = RS. 17389.12 (approx)


Part of solved Compound interest questions and answers : >> Aptitude >> Compound interest








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