Namita borrowed rupees 15000 from a bank if the rate of interest is 8% per annum compounded quarterly what will be the amount she has to pay at the end of 9month ???
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Answer:
So will pay Rs. 16236.48 at the end of 9 months.
Explanation:
Principal=15000
Rate=8%
Time=9 months
Amount=P(1+R/400)^4
=15000(1+8/400)^4
=15000(1+1/50)^4
=15000(51/50)^4
=15000*51/50*51/50*51/50*51/50
=3*51*51*51*51/5*5*50
=20295603/1250
=16236.48
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