Question

Find the compound interest on rs. 16,000 at 20% per annum for 9 months, compounded quarterly.

Answer 1

p=16000
r= 20% per annum or 20/4 =5% quarterly
n= 9 month or 9/3=3quartly

so A=p (1+r/100)n
=16000 (1+5/100)3
=16000×1.05×1.05×1.05
=18522
I= a-p
=18522-16000
=2522

Answer 2

Answer:

Amount=P (1+R4100)4n

Principal = Rs.16,000;

Time=9 months = 3 quarters;

Rate = 20%, it will be 20/4 = 5%

So lets solve this question now,

Amount= 16000(1+5100)3= 18522C.I= 18522−16000= 2522

Explanation:

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