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Richa took a loan of Rs 1 20 000 for 1...

This question belongs to Arithmetic Ability Compound Interest
Compound Interest
?

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:

Answer & Solution
Correct Answer: Option B
Rate = 20% p.a
= 5% Quarterly = $$\frac{1}{{20}}$$
Time = 1 year = 4 quarter
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