Question

Mohit deposited rs. 9000 in a bank which pays her 12% interest per annum compounded quarterly. What is the amount which she receives
after one year ?

By using the formula :

C.I = P x R x T / 100​

Answer 1

Answer:

• Amount which she receives after one year is Rs. 10080

Given:

• Principal = Rs. 9000
• Rate of interest = 12 % = 12/4 = 3%
• Time = 1 year = 4 quarters

To Find:

• Amount

Solution:

We know that,

$\: \: \: : \implies { \bf{S.I = \dfrac{P × R × T}{100}}} \\ \\ \\ \tt : \implies \dfrac{9000 \times 3 \times 4}{100} \\ \\ \\ \tt : \implies\dfrac{27000 \times 4}{100} \\ \\ \\ \tt : \implies \dfrac{108000}{100} \\ \\ \\ \tt : \implies Rs. \: 1080$

Now, finding amount:

Amount = Principal + S.I

• 9000 + 1080 = Rs. 10080

Hence,

• Amount which she receives after one year is Rs. 10080.

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