Question

what amount will be recieved on a sumof 15000 in 5/4year at 12% per annum if intrest is compounded quaterly​

Answer 1

Given, P = RS. 15000, R = 12%

and n =114=54yr

According to the formula,

Amount =P(1+R100×4)4n

=15000(1+12100×4)4×5/4

=15000(412400)5=15000(103100)5

=15000×103/100×103/100×103/100×103/100×103/100

=15×103×103×103×103×10310000000

= RS. 17389.111 = RS. 17389.12 (approx)