Find the compound intereston rupees 15625 at 16 percent per annum for nine months when compounded quaterly
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Principal= Rs. 15625
Rate= 16%
Time= 9 months i.e. 9/12 yrs
If it is compounded quarterly then,
Rate= 16/4
= 4%
Time= 9/12 yrs ×4
= 9/12×4
= 3 yrs
Therefore, conversion period (n)= 3
According to the formula,
A=P×(1+R/100)n
A=15625×(1+4/100)3
A=15625×(104/100)3
A=15625×(26/25)×(26/25)×(26/25)
A=17576
C.I.=A-(original) P
C.I.=17576-15625
C.I.= 1951 (Ans.)
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