Question

mr chopra invested rs 75000 in a bank for 3 years at 6% p.a. compounded annually. what amount will he get after compounded quarterly.​

Answer 1

Answer:

Step-by-step explanation:

P=75000

R=6/4 (invested quarterly )

T= 12 ( 1 year has 4 quarter therefore 3 yrs have 12 quarters)

A=P ( 1+ r/4÷100)^12

A= 75000 ( 1+ 6/4÷100)^12

Solving this we get

A= 75000 ( 1.015)

A=76125

C.I = 76125 - 75000

Ans 1125