Question

16 Kava deposited ? 8,500 in a bank which pays her 12% Interest per annum compounded quarterly
What is the amount which she receives after 9 months?
ou pounded quarterly.​

Answer 1

Answer:

Answer is in the attachment.

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Answer 2

Given :-----

• Principal = 8500
• Rate = 12 % compounded Quarterly ..
• Time = 9 months .

To Find :-----

• Amount After 9 months ..

Concept used :-----

• when time is Quarterly, rate is divided by 4 and time is multiply by 4 ..

Calculation :----

→ Time = 9×4 = 36 months = 36/12 = 3 years..

→ Rate = 12/4 = 3% .

Amount = P(1+R/100)^T

Putting values we get,

→ A = 8500(1+3/100)³

→ A = 8500(103/100)³

→ A = 8500*103*103*103/100*100*100 = Rs.9288.17 .

Hence, kava will get Rs.9288.17 after 9 months as Total amount ...

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