Q:
Find the C.I. on Rs. 15,225 for 9 months at 16% per annum compounded quarterly ?
Answer & Explanation
Answer: C) Rs. 1901
Explanation: P = Rs. 15225, n = 9 months = 3 quarters, R = 16% p.a. per quarter.
Amount =
= (15225 x 26/25 x 26/25 x 26/25) = Rs. 17126.05
=> C.I. = 17126 - 15625 = Rs. 1901.05.
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