Question

meena deposited Rs 10000 in a bank
at 12 % interest, compounded every 3 months.In what period will she earn an interest of Rs 609. ​

Answer 1

Step-by-step explanation:

principal = 10000

rate of interest = 12%.

for 3 months 3%.

interest = 609

amount = 10609

formula

$10000 {(1 + \frac{3}{100} )}^{n} = 10609 \\ or \: {( \frac{103}{100}) }^{n} = \frac{10609}{10000} \\ \\ {103}^{2} = 10609 \: and \: {100}^{2} = 10000 \\ so \: \: \: n = 2$

2 * 3 months = 6 months