find the compound interest on 6950 @12 persent per annum for 1 year and 9 months while the interest is due quarterly?
please guys its important in my college
Answers
Answered by
0
Answer:
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
Answered by
0
Explanation:
n means no. of quarters
3 months = 1 quarter
so, 21 months = 21/3 = 7
Also, r was 12% but as we are given question related to quarter, that's why it will be divided by 4 (bcoz in 1 year there are 4 quarters)
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