Question

Find the C. I on Rs. 5625 for 9 months at 16% p.a compounded quarterly

Answer 1

See the attachment for detail solution
Hope it will help you

Answer 2

Answer:

The C.I is Rs  702.36

Step-by-step explanation:

We have the formula

$A=P\left ( 1+\frac{r}{n} \right )^{nt}$

We have,

A = Rs 5625

n = 4

t = 9/12 = 3/4

r = 0.16

Substituting these values, we get

$A=5625\left ( 1+\frac{0.16}{4} \right )^{4\cdot \frac{3}{4}}\\\\A=6327.36$

Therefore, compound interest is given by

C.I = A - P

= 6327.36 - 5625

= Rs  702.36