Multiple choice

Find compound interest on Rs. 4000 at 24% per annum for 3 months, compounded monthly? 4000 रू. पर 24% प्रतिवर्ष की दर से चक्रवृद्धि ब्याज मासिक संयोजित होने पर 3 महीने का चक्रवृद्धि ब्याज ज्ञात कीजिए।

  1. ₹ 244.83

  2. ₹ 233.66

  3. ₹ 225

  4. ₹ 250

Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

Monthly rate = 24%/12 = 2% = 0.02. After 3 months with monthly compounding: A = 4000(1.02)^3 = 4000 × 1.061208 = 4244.83. CI = 4244.83 - 4000 = ₹244.83. Option B (₹233.66) would be simple interest for 3 months at 2% monthly.