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hardMCQSSC Selection Post 2021 Matriculation Level2026Quantitative Aptitude
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Ritu borrowed a sum of ₹ for years at p.a, interest compounded -monthly. The amount (in ₹) paid by her after years was:

  1. A
    12,045
  2. B
    11,979
  3. C
    12,089
  4. D
    11,968

Solution & Step-by-step Explanation

Given:
Principal () = ₹
Time () = years months
Rate () = per annum

Since the interest is compounded ** -monthly**:
* Number of compounding periods () = periods
* Periodic rate of interest () = per period

The formula for the compound amount is:





Thus, the amount paid is ₹.

Practice this question

Try it yourself before checking the explanation above.

Ritu borrowed a sum of ₹ for years at p.a, interest compounded -monthly. The amount (in ₹) paid by her after years was:
A
12,045
B
11,979
C
12,089
D
11,968

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