Calculating interest on a quarterly compounding basis, what is the compound interest received in 1 year on ₹2,50,000 at 40% per annum?

Subject: Mathematics | Topic: Arithmetic | Difficulty: MEDIUM

Options

1. (A) ₹1,15,931
2. (B) ₹1,16,025
3. (C) ₹1,16,033
4. (D) ₹1,16,416

Verified Answer

Option (B): ₹1,16,025

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