Ramesh deposited Rs. 7500 in a bank which pays him 12% interest per annum compounded quarterly. What is the amount which he riceves after 9 months
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Amount=Rs. 15,600
Step-by-step explanation:
principle=Rs. 7500
rate=12%
time=9months
Simple Interest=PTR/100
S.I=7500×9×12/100
S.I=75×9×12
S.I=8100
simple Interest=8100
Amount=principle+interest
A=7500+8100
A=Rs. 15,600
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