MathematicsFind the compound interest on Rs. 4000 at the rate of 24% per annum for 3 months compounded monthly.

Find the compound interest on Rs. 4000 at the rate of 24% per annum for 3 months compounded monthly.


  1. A
    ₹122.416
  2. B
    ₹244.832
  3. C
    ₹489.664
  4. D
    None 

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    Solution:

    A=P1+R100n=40001+2412×1003=40001+21003=4000102100102100102100=4244.83
    CI = A - P = ₹244.832
      
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