find the compound interest on Rs 1,400 for 9 months at 12% per annum the interest is compound quarterly
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Step-by-step explanation:
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
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