Question

let the compound interest on rupees 16000 for 9 months at 20% per annum compounded quarterly

Answer 1

GIVEN P=16000, R=20%, N=9MONTHS=3/4YEARS AND COMPOUNDED QUATERLY.

FOR COMPOUNDED QUATERLY

AMOUNT = P[1+(R/4)/100]^4N

=16000[1+(20/4)/100]^{4 X (3/4) }

=16 X (21/20)^3

=18522

COMPOUND INTEREST (C.I.) IS

C.I.=AMOUNT - PRINCIPAL

=18522-16000

=Rs 2522............answer :)