Question

3. Find the compound interest on Rs.8000 for 9 months at 20% per
annum compounded quarterly

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Answer 1

Answer:

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Step-by-step explanation:

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Answer 2

Answer:

13,824

Step-by-step explanation:

the formula is

A=P(1+R/100)^n

here, it is given that he rate is compounded quarterly, that means every three months. It is given that the compound interest is given that the interest is charged for 9 months,

so, 9/3, because 20% every three months for 9 months

from here, we get the values.

P= 8,000

R=20%

n= 3

By substituting the values:

A=8000(1+20/100)^3

A= 8000(1+1/5)^3                     because, 20/100= 1/5

A=8000(6/5)^3                         '            ',   lcm= 6

A= 8000(1.2)^3

A= 8000(1.728)

A= 13824

Don't forget to put the units for the respective