Question

Manoj lent RS 15000 for 9 month at the rate of 8% per annum compounded quarterly what interest does he receive at the end of 9 months? please step by step.

Answer 1

We know Interest I =P x n(n+1) x r/2 x 12 x 100
=Rupees *15000 x 9 x 10 x 8/2 x 12 x 100
=Rupees 4500(ANSWER)