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Question

What would be the compound interest obtained on an amount of Rs 20,000 at the rate of 15 p.c.p.a. after 4 years?

  • Rs 14,980.125
  • Rs 19,680.125
  • Rs 16,780.125
  • Rs 18,980.125
  • None of these
Answer- A

By using compound interest formulae

=>           1 = 20000{(23/20)^4 - 1} = 14,980.125


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