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Question

Tick the correct answer in each of the following: 

The compound interest on Rs 40000 at 6% per annum for 6 months, compounded quarterly, is

(a) Rs 1209        (b) Rs 1902        (c) Rs 1200        (d) Rs 1306


Solution

Principal (P) = Rs. 40000Rate (R) =6% p.a. 64=32% quarteralyPeriod (n) = 6 months = 2 quaters Amount = P (1+R100)n=Rs. 40000 (1+32×100)2=Rs. 40000×203200×203200=Rs. 41209C.I. = A - P = Rs. 41209 - 40000=Rs. 1209                             (a)


Mathematics
Secondary School Mathematics VIII
Standard VIII

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