Subject

    Bank Exam

    Topic

    Janata Bank 2015 (AEO)

    Find the compound interest of Tk. 15625 for 9 months at 16% per annum compounded quarterly.

    ক)
    Tk. 1851
    খ)
    Tk. 1941
    গ)
    Tk. 1951
    ঘ)
    Tk. 1961

    Explanation

    P = Tk15625, n = 9 months = 3 quarters, R = 16% p.a. = 4% per quarter. Amount = Tk [15625 X  (1 + 4/100)3 = Tk (15625 X  2625∗2625∗2625)                = Tk 17576. ∴ C.I. = Tk (17576 - 15625) = Tk1951

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