Question

find the compound interest on ₹10000 at the rate of 8% per annum for 9 months bit interest is compounded quarterly
help me​

Answer 1

Step-by-step explanation:

HARSH KANKARIA

Answered 2 years, 5 months ago

Given,

Principal, P =Rs.10000, Rate, R = 8% per annum compounded half yearly for 1 year.

Now, There are two half years in a year. Therefore compounding has to be 2 times.

And rate = half of 10% = 5% half yearly.

Therefore, the required amount =

= Rs. 10816

10000( 1+ 4/100)²

And Compound Interest, C.I. = Amount - Principal = Rs. (10816 - 10000) = Rs. 816.