Question

Vinay deposited rs 8000 in ICIC Bank,Which pays him 12% intrest per annum compounded quartely. What is the amount that he receives after 6 months?(a) Rs. 8487.2 (b) rs. 9228.8 (c) 9314 .3 (d) rs.9338.8​

Answer 1

Step-by-step explanation:

12%/4=3%

First 3 moths=3%of8000=240

Last 3 moths=240+3%of240

=240+7.2=247.2

Total interest=240+247.2=487.2

Amount=8000+487.2=8487.2