Question

find the compond interest on ₹8000 for 9 months at 12 percent per annum calculated quarterly

Answer 1

Given, Principal = Rs. 8000;

Time = 9 months =3 quarters;

Rate = 12% per annum = 3% per quarter.

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Amount = Principal (1 + rate/100)^time

Amount = 8000 x (1 + 3/100)³

= 8000 x 103/100 x 103/100 x 103/100

= 8741.8

CI = 8741.8 - 8000

= 741.8

Hence CI is 741.8 rupees.

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Answer 2

Answer:

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