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Rina invested Rs. 15625 in a company at compound interest interest compounded quarterly. She received Rs. 17576 after 9 months from the company. Find the rate of interest per annum

Answers

Answered by piyu2305
3

Step-by-step explanation:

Principal=15625 Rs.

Time=9 months=3 Quarters

Rate of interest=16 %=4% per quarter

Amount=15625×(1+ 4/100)^3

⇒15725× 104/100×104/100 ×104/100

⇒15725×26/25 ×26/25 ×26/25

⇒17567Rs.

C.I.=17567−15625=1951Rs.

Answered by DeepshikaKola
0

Answer:

Given details are,

Principal (p) = Rs 15625

Rate (r) = 16% per annum = 16/4 = 4% (quarterly) Time (t) = 9 months = 9/12 ×4 = 3quarters of a year

By using the formula,

A = P (1 + R/100) n = 15625 (1 + 4/100)3 = 15625 (104/100)3 = Rs 17576

∴ CI = Rs 17576 – 15625 = Rs 1951

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