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