Find the compound interest on Rs 15625 at 16% per annum for nine months when compounded quarterly.
please explain it
Answers
Answered by
1
Step-by-step explanation:
Principal=15625 Rs.
Time=9 months=3 Quarters
Rate of interest=16 %=4% per quarter
Amount=15625×(1+
100
4
)
3
⇒15725×
100
104
×
100
104
×
100
104
⇒15725×
100
24
×
100
24
×
100
24
⇒17567Rs.
C.I.=17567−15625=1951Rs
Answered by
0
Answer:
1951
Step-by-step explanation:
Principal (p) = Rs 15625 Rate (r) = 16% per annum = 16/4 = 4% (quarterly) Time (t) = 9 months = 9/12 ×4 = 3quarters of a year By using the formula, A = P (1 + R/100) n = 15625 (1 + 4/100)3 = 15625 (104/100)3 = Rs 17576 ∴ CI = Rs 17576 – 15625 = Rs 1951
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