Sainik School Entrance Exam 2020 Solved Paper

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Question : 34 of 150

Marks: +1, -0

Find the compound interest on

₹ 1,25,000

for 9 months at

8 \%

per annum, compounded quarterly.

7551
7651
7650
7655

Solution:

(b) From the question,

{\P}=₹ 1,25,00

, time

=9

months,

r=8 \%

per annum compounded quarterly

n=3

and

r=2 \%

∴ Compound interest

={\P}(1+{r}/{100})^n-{\P}

=₹ 1,25,000(1+{2}/{100})^3-₹ 1,25,000

=₹ 1,25,000[(1+{1}/{50})^3-1]

=₹ 1,25,000[({51}/{50})^3-1]

=₹ 1,25,000\left[{132651}/{125000}-1]

=₹ 1,25,000[{132651-125000}/{125000}]

=\₹ 7651

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