P=28000 R=12%per Annum T=9months find the amount and C.I . If the interest is compound quarterly
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Answer:
Principal (P) = Rs.28000
Rate (R) = (12÷4)% = 3%
Time (n) = (3/4 × 4) = 3 years
Amount (A) = P (1 + R/100)ⁿ
=> A = 28000 (1 + 3/100)³
=> A = 28000 (103/100)³
=> A = Rs.30596.35
C.I. = Rs.(30596.35-28000) = Rs.2596.35
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