Question

calculate the amount RS3,100 /- at the end of 9 months if the rate of interest is 12% per annum compounded quarterly.​

Answer 1

Step-by-step explanation:

Compound Interest Formulas and Calculations:

Calculate Accrued Amount (Principal + Interest) A = P(1 + r/n)nt

Calculate Principal Amount, solve for P. P = A / (1 + r/n)nt

Calculate rate of interest in decimal, solve for r. r = n[(A/P)1/nt - 1]

Calculate rate of interest in percent. R = r * 100.

Calculate time, solve for t.