Question

Sum=100000 for 9 months at 4 % per annum calculate compound intersest gast

Answer 1

Heya!!

Answer→

As We Know,

Compound Interest,

= p(1+r/100)^t 【Where , p=Sum, r= interest percentage, t=time 】

Now,

4% Per annum, Which Means 1% per Quarter.

So,

100000(1+1/100)^3

=100000×101/100×101/100×101/100

=103030.1

Now,

Interest=(103030.1-100000)

=3030.1

So, Interest Will Be ₹3030.1

Hope My Answer Helped (: