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Q.

The compound interest on sum of Rs.  8000 for 1 year at 10% p.a. compounded quarterly

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a

Rs.  380.50

b

Rs.  830.50

c

Rs.  530.50

d

Rs.  850.30

answer is A.

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Detailed Solution

P=8000;  T=1yrs  n=123=4   R=10%p.a

A=P(1+R400)4n=8000×(1+10400)4

=8000×(4140)4=8000×4140×4140×4140×4140=8830.50

C. I=AP=8830.508000=830.50

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