Himanshu deposited ₹3000 in a bank at 8% per annum for 6 months. Find the amount received by him, if the interest is calculated quarterly.
Answers
Answered by
1
Sum =Rs.7500
Time = 6 months =21 year
Rate =8%
Compounded quarterly
A=Sum(1+100R/4)4T
=7500(1+4008)4×21
=7500(1+501)2
=7500×5051×5051
=3×51×51=Rs.7803 (Answer)
Similar questions