Question

Find the compound interest on Rs 16000 for nine months at 20percent per annum when the interest is calculated quarterly

Answer 1

GIVEN P=16000, R=20%, N=9MONTHS=3/4YEARS AND COMPOUNDED QUATERLY.

FOR COMPOUNDED QUATERLY 
AMOUNT = P[1+(R/4)/100]^4N
=16000[1+(20/4)/100]^{4 X (3/4) }
=16 X (21/20)^3
=18522
COMPOUND INTEREST (C.I.) IS

C.I.=AMOUNT - PRINCIPAL
=18522-16000
=Rs 2522

Or Simply,

Answer:   B) 2522 

Explanation:

Principal = Rs. 16000; Time = 9 months =3 quarters;
Rate = 20% per annum = 5% per quarter.
Amount = Rs. [16000 x (1+(5/100))3] = Rs. 18522.

CI. = Rs. (18522 - 16000) = Rs. 2522

Hope This Helps :)

Answer 2

2522 is the ci .....hope this helps you little soul