Question

Find the compound interest on rupees 15625
At 16% per annum for nine months when compound quarterly

Answer 1

Answer:

amount =p(1+r/100)3. {where time=(9/12)4

and rate%=16/4=4%

amount=15625(104/100)(104/100)(104/100)

=(26)(26)(26)

=Rs.17576

C.I=a-p

=17576-15625

=Rs.1951