Question

find the compound interest on Rupees 15625 at 16% per annum for 9 months when compounded quarterly.​

Answer 1

Step-by-step explanation:

Principal=15625 Rs.

Time=9 months=3 Quarters

Rate of interest=16 %=4% per quarter

Amount=15625×(1+

100

4

)

3

⇒15725×

100

104

×

100

104

×

100

104

⇒15725×

100

24

×

100

24

×

100

24

⇒17567Rs.

C.I.=17567−15625=1951Rs