7. How much would a sum of 16,000 amount to in one year at 20% per ann – InterviewSolution

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7. How much would a sum of 16,000 amount to in one year at 20% per annum if the interest interest is calculated quarterly.compounded quarterly?1The bank sharges 1207

Answer»

ong>Answer:

Rate = 20% per ANNUM = 5% per QUARTER. Amount = Rs. [16000 X (1+(5/100))3] = Rs. 18522.

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