2026 · Q12
In what duration of time will Rs. 3300 become Rs. 3399 at 12% per annum interest compounded quarterly?
Elementary MathematicsSimple and Compound Interest
- A3 months
- B6 months
- C9 months
- D1 year
Explanation
At 12% per annum compounded quarterly, the quarterly rate is 3%. The equation 3300(1.03)^n=3399 gives (1.03)^n=1.03, so n=1 quarter, which is 3 months, option A. Using 12% as the quarterly rate is the standard error here.