Question

Find the compound interest on Rs.10,00,000 for 9 months at a rate of 12% per annum compounded quarterly.

Answer 1

Answer: 1092727

Step-by-step explanation:

Principal = Rs. 10,00,000

Time = 9 months = 3/4 years

Rate = 12%

So, since it is to be compounded quarterly, we will change the formula for amount.

So,

P (1+R/4x100)^4n

=> 1000000 (1+12/400)^4 * 3/4

=> 1000000 (412/400)^3

=> 1000000 (69934528/64000000)

=> 1000000 * 1.092727

= 1092727 Rs.

CI = 1092727 - 1000000

= 92727 Rs.

Hope you found this helpful. If you did, please mark this brainliest. Thanks!

Answer 2

It is given that :

Principal(p) = RS 10,00,000

Rate of the interest = 12%

Time(n) = 9 months or 3/4 years

Substituting the values

10,00,000 ( 1 + R/4x100 )^4n

= 10,00,000 ( 1 + 12/400)^4×3/4

= 10,00,000 ( 412/400)^3

= 10,00,000 × 1.092727

= 1092727

$now$

Compound interest = Amount - Principles

$= 1092727 - 1000000 \\ = rs \: 92727$

Therefore, the compound interest is RS 92727.