Find the compound interest on Rs. 20000 for 1 year at 8% per annum, compounded quarterly.

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Quarterly rate = 8 / 4 = 2%. Time = 4 quarters. Amount = 20000 * (1 + 2/100)^4 = 20000 * (1.02)^4 = 20000 * 1.08243216 = Rs. 21648.64. Compound Interest = 21648.64 - 20000 = Rs. 1648.64.

Find the compound interest on Rs. 20000 for 1 year at 8% per annum, compounded quarterly. MCQ with Answer and Explanation

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