Question

find the compound interest on Rs 1500 for 9 months at the rate of 4% per annum,the interest being paid quarterly. please step by step.

Answer 1

Principal = Rs.1500
Time = 9 months
Rate= 4%
SI=PRT/100
= 1500×4×9/100×12
=Rs.45

Answer 2

Hello friend
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Given:

Principal,P = Rs 1500

Rate of interest,R = 4% per annum.

Number of year,n = 9/12
= 3/4
n = 3/4..

We have to find the C.I means Compound interest

We know that,

Compound Interest = Amount - Principal

C. I = A - P

So, first we have to find the Amount (A)

By using the formula for finding the Amount as follows:

A= P( 1 + R/4 )^ 4n

So let's put the given values.

we get,

A = 1500( 1 + 4/4 )^4 * 3/4

A = 1500(1+1)^3

A = 1500(2)^3

A = 1500*8

A = 12000

Amount= Rs 12000

Now we can easily find the C.I

Using the formula,

C.I = A - P

C.I = 12000- 1500

C.I = 10500

Therefore the Compound Interest Quarterly is Rs. 10500

I hope this will helps you..

Thanks.