Question

Find the compound interest on Rs.20000 at 4% per annum for two years compounded quarterly.

• A. Rs.1657
• B. Rs.2000
• C. Rs.1509
• D. Rs.1500
• E. Rs.6356

Answer 1

The correct option is A

Rs.1657

Compound interest = $20000\times {(1+\frac{1}{100})}^8-20000$

= Rs. 1657