Question

Namita borrowed 15000 from the bank If the rate of 8% per annum compounded quarterly what is the amount she has to pay at the end of 9 months .​

Answer 1

Answer:

p=15000

r=8%

t=9 months =3  (as it is compounded quarterly)

Amount =p(1+r/100)^3

=15000(1+8/100)^3

=15000*(1+1/12.5)^3

=15000*13.5/12.5*13.5/12.5*13.5/12.5

=18895.68

Step-by-step explanation:

Answer 2

The amount she has to pay at the end of 9 months= Rs 15918.12.

Explanation:

The formula to find the compound amount after t years at rate r per annum compounded quarterly :-

$A=P(1+\dfrac{r}{400})^{4t}$ , where p=Principal amount

As per given , we have

P= Rs 15000

r= 8%

t= 9 months = $\dfrac{9}{12}$ years [∵ 1 year = 12 months]

i.e. t= $\dfrac{3}{4}$ year

Put all values in the formula , we get

$A=15000(1+\dfrac{8}{400})^{4\times\frac{3}{4}}$

$A=15000(1+0.02)^{3}$

$A=15000(1.02)^{3}$

$A=15000(1.061208)=15918.12$

Hence, the amount she has to pay at the end of 9 months= Rs 15918.12 .

# Learn more :

Rs 100000 for 9 months at 4 ℅ per annum compounded quarterly. calculate the amount and compound interest ?

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