Question

Please anyone help

Find the rate at which Rs 4000 will give Rs.630.50 as compound interest in 9 months, interest being compounded quarterly.

Please answer
Urgently

Answer 1

$ci = \frac{pr}{400} ^{4n}$

630.50 = (4000*r/400) ^ (4*3/4)

650.3 = (10r)^3
650.3 = 1000r^3

r = 21.67