5000 at 24% p.a. for 9 months
Answers
Answered by
5
Answer:
Find the compound interest on Rs. 125000 for 9 months at 8% per annum compounded quarterly
Given, P=125000,
As compounded quarterly R=
4
8
=2%
Time =9 months=
12
9
years =
12
9
×4quarters =3 quarters
We know, Amount =A=(1+
100
R
)
n
A=125000[
1+(
100
2
)
]
3
= Rs. 132651
C.I = Rs. [
132651−125000
]= Rs. 7651
Step-by-step explanation:
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Answered by
1
Answer:
Compound interest is the addition of interest to the principal sum of a loan or deposit, or in other words, interest on interest. It is the result of reinvesting interest, rather than paying it out, so that interest in the next period is then earned on the principal sum plus previously accumulated interest.
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