Ritesh invested 40,000 for 9 months at the rate of 12% per annum compound quarterly find the compound interest?
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vipinmamgai40:
Rahul diposite a sum 10,000 at the rate of 4% pa in bank on 11 january. on 18 august in the same year he withdraw entire amount in his account. find the amount bank gave to rahul?
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10,240
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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]}](https://tex.z-dn.net/?f=%5Cbold%7B%5BANSWER%5D%7D "\bold{[ANSWER]}")
==================================
==================================
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
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