Richa took a loan of Rs. 1,20,000 for 1 year at 20% per annum, compounded quarterly. The amount that Richa has to pay after 1 year is:
A. Rs. 1,45,861.75
B. Rs. 1,45,860.75
C. Rs. 1,45,863.75
D. Rs. 1,45,862.75
Answer: Option B
Solution (By Examveda Team)
Rate = 20% p.a= 5% Quarterly = $$\frac{1}{{20}}$$
Time = 1 year = 4 quarter
This Question Belongs to Arithmetic Ability >> Compound Interest
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