find the compound interest Rs 15,625 at 16% per annum for 9 months when compounded quarterly
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Answered by
20
P = ₹ 15,625
R = 16% = 4%
T = 9 months = 9 × 4 = 3 year
CI = P × (1 + R/100) to the power T
CI = 15625 × (1 + 1/25) ³
CI = 15625 × (26/25)³
CI = 15625 × 26/25 × 26/25 × 26/25
CI = ₹ 17576
R = 16% = 4%
T = 9 months = 9 × 4 = 3 year
CI = P × (1 + R/100) to the power T
CI = 15625 × (1 + 1/25) ³
CI = 15625 × (26/25)³
CI = 15625 × 26/25 × 26/25 × 26/25
CI = ₹ 17576
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