Question

If the compound interest on rupees 16000 for 9 month at 20% per annum interest being compounded quarterly

Answer 1

Answer:

16000; time = 9 months = 3 quarters;

rate = 20% per annum = 5% per quarter. amount = rs. [16000 × ( 1 +( 5/100)) 3] = RS.

find the compound interest on rs 16000 at 20 percent per annum for 9 months compounded quarterly

a. 13175. b. 14225

c. 12575. d. 15625