Question

find the compound interest on rs20000 at 20 % interest rate per year for 9 months, compounded quarterly

Answer 1

p=20000
r=20/4=5
t=9/12*4=3yrs
a=p(1+r/100)
a=20000(1+5/100)3
a=20000*105/100*105/100*105/100
a=23152.5
c.i=23152.5-20000
c.i=3152.5

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Answer 2

And to find the compound interest just apply this formula....

CI = A - P
CI = 23152.5 - 20000
CI = 3152.5

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