Question

find the compound interest on rs .15, 625 at 16℅ per annum for nine months when compounded quartely

Answer 1

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$15625 \times 4 \times 1 \div 100 = 621$
$15625 + 621 = 16246$
$16246 \times 4 \times 1 \div 100 = 64.96$
$1688.96$
$13868.4816$