Richa took a loan of Rs. 1,20,000 for 1 year at 20% per annum, compounded quarte

MCQ Practice

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:

Subject: MathematicsTopic: Compound Interest

Rs. 1,45,861.75

Rs. 1,45,860.75

Rs. 1,45,863.75

Rs. 1,45,862.75

Correct Answer: B