Question

Find the compound interest on Rs 51200 for 9 months at 15 % per annum compounded quarterly.

Answer 1

the answer is:5978.7

Answer 2

Answer:

Rs.5978.7

Step-by-step explanation:

Principal = Rs.51200

Time = 9 months = $\frac{9}{12} year$

rate of interest = 15% =

No. of compounds per year = 4

$A=P(1+\frac{r}{n})^{nt}$

t is time

n is no. of compounds

r is rate of interest

P is principal

A is amount

Substitute the values

$A=51200(1+\frac{15}{400})^{4 \times \frac{9}{12}}$

$A=57178.7$

Compound interest = Amount - Principal= 57178.7-51200=Rs.5978.7

Hence  the compound interest on Rs 51200 for 9 months at 15 % per annum compounded quarterly is Rs.5978.7