Solved UPSC CDS/OTA Question
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Q · Compound InterestModerate · 45s
₹16,000 becomes ₹18,522.24 in 1 year when compounded quarterly. Find the annual nominal rate.
TopicCompound Interest
Question Typemultiple choice
DifficultyModerate
Marking+1 / −0.33
Test Duration30 min
Step-by-Step Solution
The complete worked solution.
Every step explained - no skipped algebra.
(1+r/4)^4 = 18522.24/16000 ⇒ r ≈ 14.91% p.a.
Final Answer: Option A - 14.91%