Question

find the compound interest on rupees 32000 for 9 months at 10% per annum if the interest is being compounded quarterly​

Answer 1

Answer:

Time = 9 months = 3 quarters

Rate = 10% per annum = 10/4% per quarter

Amount = 32000(1+10/400)^3

= 32000*410*410*410/400*400*400

= 34460.5

CI = 34460.5-32000

= 2460.5

Answer 2

Step-by-step explanation:

p=32000

T=9months = ¾ years

r=10%

$a = p(1 + r \div 400)^{4n}$

A=32000(1+10/400)^4×3/4

=32000(41/40)³

=32000×41/40×41/40×41/40

=41×41×41/2

=34460.5

CI=A-P

=34460.5-32000

=2460.5