Question

a sum of money is invested at compound interest for 9 months at 20% per annum when the interest is compounded quarterly it would have fetched rs 210 more than in the previous case. Find the sum

Answer 1

Answer:

principal = 181.40

here amount=210

no of years =3 (9 months =0.75 and as it is quarterly 0.75×4=3)

int = 0.05(20/400) 400 because 100×4