SSC CHSL 6 Dec 2015 Shift 2 Paper

Question : 125 of 200

Marks: +1, -0

The compound interest on ₹12000 for 9 months at 20% per annum, interest being compounded quarterly is:

Solution:

Principal amount = Rs. 12,000 at rate of interest = 20%
Time period =

9/12=3/4

years
Compound interest compounding quarterly =

P[(1 + R/400 )^{4T} − 1]

12, 000[(1 + 20/400 )^ {4×3 /4}- 1]

12, 000[(1 + 1/20 )^3 -1]

12,000[( 21/20 ) ^ 3− 1]

12, 000 × ({9261−8000} /8000 )

1.5 × 1261 = Rs. 1891.50

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