find the compiund interest on rs 6950 @12 % for 1 year and 9 months while the interest is due quarterly
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Answer:
HERE IS YOUR ANSWER
Step-by-step explanation:
Here, P=6,000 , R=9%=
100
9
=0.09 and n=18months=
12
18
=
2
3
years.
Amount after 2 years =P(1+
2
r
)
2n
=6,000(1+
2
0.09
)
2
2
3
=6000(1+0.45)
3
=6,000×1.45
3
=18291.75
∴Amount=18291.75
∴C.I=A−P=18291.75−6000=12,291.75
C.I=12,291.75
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