Find the amount and the compound interest on ₹ 100000 compounded quarterly for 9 months at the rate of 4 percent per annum.
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Answer:
Step-by-step explanation:
P =100000 n ( time period) = 9 months
R = 4% compounded quarterly
☆ A = P (1+ R/4×100)^4n
A = 100000
(1+4/4×100)^4×(9/12) = 100000
(1+4/400)^3 = 100000
(404/400)^3 =100000 (1.03) =
103000 amount = Rs. 103000
☆ compound interest
= A _P 103000 _ 100000
=Rs. 3000
amount = Rs.103000
c.i = Rs. 3000
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