Question

Find the compound interest on ₹1400 for 9 months at 12% per annum,if the interest is compounded quarterly.

Answer 1

p=1400rs
r=12%annual
t=9month
interest is compounded quarterly
p=1400
r=(12/4)%=3%per 3months
t=9month/3=3times
a=p(1+r/100)^t
=1400(1+3/100)^3
=1400(103/100)^3
=(1400×103×103×103)/1000000
=15298178/10000
= 1,529.8178rs
ci=a-p
= 1,529.8178-1400
= 129.8178rs

Answer 2

The compound interest on ₹1400 for 9 months at 12% per annum,if the interest is compounded quarterly is Rs.129.8178

Step-by-step explanation:

Principal = Rs.1400

Rate of interest = 12%

Time = 9 months = $\frac{9}{12}=\frac{3}{4} years$

No. of compounds per year = 4

$Amount = P(1+\frac{r}{n})^{nt}$

where P is the principal

r = rate of interest

n = No. of compounds

t = time

Substitute the values in the formula :

$A=1400(1+\frac{12}{400})^{4 \times \frac{3}{4}}\\A=1529.8178$

So, Interest = Amount - Principal = 1529.8178-1400=129.8178

Hence the compound interest on ₹1400 for 9 months at 12% per annum,if the interest is compounded quarterly is Rs.129.8178

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Find the compound interest on rupees 1400 for 9 months at 12% per annum interest is compounded quarterly

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