Question

ritesh invested 40,000 for 9 months at the rate of 12% per annum compound quarterly. find the compound interest?

Answer 1

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$\underline\bold{\huge{ANSWER \: :}}$

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GIVEN INFORMATIONS :-

(1) P = Rs. 40,000

(2) r = 12% = (12/4)% = 3% (quarterly)

(3) n = 9 months = (9/3) or 3 quarters.


BY USING FORMULA, WE GET :

C. I. = P [(1+r/100)^n - 1]

=> C. I. = 40000 [(1+3/100)³ - 1]

=> C. I. = 40000 [(1092727/1000000)-1]

=> C. I. = 40000 (92727/1000000)

=> C. I. = ₹ 3709.08


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THUS THE COMPOUND INTEREST ON RS. 40,000 FOR 9 MONTHS AT THE RATE OF 12% PER ANNUM (COMPOUNDED QUARTERLY) IS RS. 3709.08 $\bold{[ANSWER]}$

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