Question

Find the compound interest on rs.16000 at 20% p.A.For 9 months , compounded quarterly

Answer 1

Step-by-step explanation:

16000×120/100×1\9

160×120×1/9

19200/9

2133.33

Answer 2

Answer:

given,

p=Rs 16000

t= 9 months (as compounded quarterly,t=3 quarters)

r=20%(quarterly %=5%)

A=16000*(1+5/100)^3

= (16000*21*21*21)/(20*20*20)

Rs 18522

as C.I= A-P

=18520-16000

=Rs 2520