ABC26GN4151 · Compound Interest
Subject: General Aptitude · Chapter: Compound Interest · Exam: · Marks: · Difficulty:
Find the compound interest on ₹ 15625 for 9 months at 16\% per annum compounded quarterly.
(a)₹ 1851
(b)₹ 1941
(c)₹ 1951
(d)₹ 1961
Answer
Explanation
$P=₹ 15625, n=9$ months $=3$ quarters, $\mathrm{R}=16 \%$ p.a. = 4\% per quarter. $$\begin{aligned} \text { Amount } & =₹\left[15625 \times\left(1+\frac{4}{100}\right)^{3}\right] \\ & =₹\left(15625 \times \frac{26}{25} \times \frac{26}{25} \times \frac{26}{25}\right)=₹ 17576 . \\ \therefore \quad \text { C.I. } & =₹(17576-15625)=₹ 1951 . \end{aligned}$$
Explanation as extracted from the printed page; notation may be imperfect.
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