Question

find the compound interest on $15000 at 8%rate for a month the interest payable quarterly​

Answer 1

Answer:

We know the formula,

A=P(1+nr)n.t

Given:

P= Rs. 15000,r=20%,n=4 and t=2.5 years

⇒A=15000(1+40.08)4×2.5

⇒A=15000×1.0210

⇒A=15000×1.218994

⇒A= Rs. 18284.91

To find interest, we use formula 

A=P+I

Since A=18284.91 and P=15000, we have

A=P+I

⇒18284.91=15000+I

⇒I=18284.91−15000=3284.91

Interest, I= Rs. 3284.91

Answer 2

Answer:

Step-by-step explanation:

Step-by-step explanation:

P =15000

T=3quarter years

R%=2%

A=p(1+r/100)'n

=15000(1+2/100) '3

=15000×51/50×51/50×51/50

=(3×51×51×51)÷25

=15918.12

Ci= a -p

=15918.12-15000

=918.12