Find the compound interest on Rs 10,000 for 6 months, at 16% per annum, compounded
quarterly.
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Answer:
Given, P= Rs. 16000,r=20% p.a. =20/4=5% per quarter,
Time =9 months=
12
9
years =
12
9
×4quarters =3 quarters
Amount=P(1+
100
R
)
N
∴A=16000(1+
100
5
)
3
=16000×(
20
21
)
3
=16000×
8000
21×21×21
= Rs. 18522
Therefore, C.I. = Rs. 18522− Rs. 16000= Rs. 2522
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