Question

Let us write by calculating compound interest 6250
for 9 months at the rate of 10% compound interest
per annum compounded at the interval of 3 months​

Answer 1

Answer:

Step-by-step explanation:

We know that if the rate of compound interest is r% per annum and the interest is compounded quarterly, the number of phase of compound interest in a year is 4, then the amount for n years  

From given, p = ₹6250, r = 10 and  years

∴ Amount for 9 months or 3/4 year  

= ₹6730.56

∴ Compound interest for 9 months = ₹6730.56 - ₹6250

= ₹480.56