Multiple choice

Shyam deposited in a ban Rs. $7500$ for $6$ months at the rate of $8\%$ interest compounded quarterly. Find the amount the received after $6$ months.

  1. $7803$
  2. $7804$
  3. $7801$
  4. $7805$
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A Correct answer
Explanation

Principal = 7500, Rate = 8% per annum, compounded quarterly means 2% per quarter. Time = 6 months = 2 quarters. Amount = 7500 * (1 + 0.02)^2 = 7500 * 1.0404 = 7803.

AI explanation

Using the quarterly compounding formula, the principal is 7500, the rate is 2 percent per quarter, and the time is 2 quarters. The amount equals 7500 multiplied by the square of 1.02, which is 7500 times 1.0404. This multiplication gives the final received amount of Rs. 7803.

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