Question

find amount and CI if intrest is compounded quarterly : a). P =8000 R = 16% T= 9 months




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Answer 1

Step-by-step explanation:

We know formula for compound interest compounded quarterly

Amount=P(1+nr)nt

CompoundInterest=Amount−Principal

Given,

principal=Rs8000

Time=9months=9/12months

Rate=20%

=8000(1+4.2)129×4

=8000(1+0.05)3

 =8000(1.05)3

=8000×1.15762=9261

Amount is Rs9261

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

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