what is the compound interest on rs:30,000 for 4 months at the rate of 5% per annum Choose the correct choice from the following options.
A) 501.13 B) 502.13 C) 503.13 D) 504.13 E) 505.13

Rationale: it is monthly compound rate = 5 / 12 % per month 30000 * ( 1 + 5 / 1200 ) ^ 4 - 30000 = 503.13 answer : c
Answer: C