Question

6. What amount will be received on a sum of Rs.15000 in 1 1/4
yr at 12% pa, if interest is
compounded quarterly ?​

Answer 1

Step-by-step explanation:

6. What amount will be received on a sum of Rs.15000 in 1 1/4

yr at 12% pa, if interest is

compounded quarterly ?

Answer 2

Given, P = ₹ 15000, R = 12 %

and n = 11/4 = 5/4 Yr

According to the formula,

Amount = p [1 + R/(100 x 4)]4n

= 15000 x [1 + 12/(100 x 4)]4 x 5/4

= 15000(412/400)5

= 15000 (103/100)5

= 15000 x (103/100) x (103/100) x (103/100) x (103/100) x (103/100)

= (15 x 103 x 103 x 103 x 103 x 103) / 10000000

= ₹ 17389.111

= ₹ 17389.12 (approx )