Question

a. P
b. P = 8000, R = 20% per year, T = 2 – years
​

Answer 1

Correct option is -  B  - 1,261

We know formula for compound interest compounded quarterly

Amount=P(1+  

n

r

​  

)  

nt

 

CompoundInterest=Amount−Principal

Given,

principal=Rs8000

Time=9months=9/12months

Rate=20%

=8000(1+  

4

.2

​  

)  

12

9

​  

×4

 

=8000(1+0.05)  

3

 

=8000(1.05)  

3

 

=8000×1.15762=9261

Amount is Rs9261

Compound interest will be=(9261-8000)=Rs1261