BUSINESS ADMINISTRATION
FINANCIAL MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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What is the compound value of Rs. 10, 000 at the end of 3rd year at 12% interest when interest is calculated on quarterly basis?
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14050
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13500
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14260
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15430
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Explanation:
Detailed explanation-1: -10000 (1+10100)3=Rs. 10000×1110×1110×1110=Rs. 13310C.I.
Detailed explanation-2: -∴ Compound interest = ₹13860 – ₹10000 = ₹3860. Q.
Detailed explanation-3: -Amount = 10, 000 + 3860 = ₹ 13860.
Detailed explanation-4: -Detailed Solution. ∴ The compound interest is Rs. 1, 664.
There is 1 question to complete.