Question

6. Find the compound interest on 1,500 for 9 months at the rate of 4% per annum, the interest being paid quartely
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Answer 1

Answer:

Rs.45.45

Step-by-step explanation:

When compounded quarterly, the Rate becomes 1/4th and the Time is multiplied by 4.

Principal (P) = Rs.1500

Rate (R) = (4÷4)% = 1%

Time (n) = 9 months = (3/4 × 4) years = 3 years

Amount (A) = P (1 + R/100)ⁿ

=> A = 1500 (1 + 1/100)³

=> A = 1500 (101/100)³

=> A = Rs.1545.45

Compound Interest = A-P = Rs.(1545.45-1500) = Rs.45.45

Answer 2

Answer:

your answer ☺

Step-by-step explanation:

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