calculate the compound interest on rs rs16000 For 9 month at 20% per annum compounded quarterly
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GIVEN P=16000, R=20%, N=9MONTHS=3/4YEARS AND COMPOUNDED QUATERLY.
FOR COMPOUNDED QUATERLY
AMOUNT = P[1+(R/4)/100]^4N
=16000[1+(20/4)/100]^{4 X (3/4) }
=16 X (21/20)^3
=18522
COMPOUND INTEREST (C.I.) IS
C.I.=AMOUNT - PRINCIPAL
=18522-16000
=Rs 2522............answer :)
FOR COMPOUNDED QUATERLY
AMOUNT = P[1+(R/4)/100]^4N
=16000[1+(20/4)/100]^{4 X (3/4) }
=16 X (21/20)^3
=18522
COMPOUND INTEREST (C.I.) IS
C.I.=AMOUNT - PRINCIPAL
=18522-16000
=Rs 2522............answer :)
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