find the compound interest on Rupees 1500 for 9 months at 12% per annum the interest compounded quarterly
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Answer:
as it is compounded quarterly,
P = $1,500
R = 12% = (12/4)% = 3%
T = 9 months = 9/3 = 3 months
ATQ,
amount = p(1+r/100)^n
= 1500( 1 + 3/100)^ 3
= 1500( 103/100)^3
= 1500* 103*103*103/1000000
= 1639.09050
compound interest = A - P
= $( 1639.09050 - 1500)
= $ 139.09050
hope it maybe helpful!!
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