What is the compound interest in rs. 4000 for 9 months at 6 % p.a , if the interest is calculated quarterly ? ( iam telling you answer please give me solution, answer=182 . 71 )
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Question:-What is the compound interest in rs. 4000 for 9 months at 6 % p.a , if the interest is calculated quarterly ? ( iam telling you answer please give me solution, answer=182 . 71 )
Answer:
Given, P = RS. 4000, n = 9 months = 34yr
and CI= RS. 630.
Amount = P + CI = 4000 + 630.50 = rs. 4630.50
According to the formula,
Amount = P(1+R100×4)4n
=> 4630.50=4000(1+R400)4×3/4
=> 4630.50=4000(400+R400)3
=> 4630.504000=(400+R400)3
=> 92618000=(400+R400)3
=> (2120)3=(400+R400)3
=> 400+R400=2120
=> 400+R=21×20=420
R=420-400=20%
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