Question

is rate of interest is 16% per annum compounded quarterly and compound interest on a certain sum is rupees 400 for 3 months .Find the sum​

Answer 1

Answer:

10000 rs

Step-by-step explanation:

Rate of interest = 16%

and interest is compounded quarterly

menas rate per quarter is => 16/4 = 4 %

Also ci for first three months is = 400

Solution :-

We know very well that interest for first year, first quarter, first half is always same for CI as well as si

=> now 3 months = 400rs

Also 400 is 4 % of the sum

If 4 % = 400

then 100% =?

=> 100/4×400 = 10000 rs