Question

what is the compund interest accured on the amount of rs.15000 at the rate of 11 p.c.p.a at the end of 3 years

Answer 1

P = RS. 15000 = (11÷4)% per quater = 5% per quater, t = 3 quarters

CI = [1+5÷100] 3 - 15000]

= [(15000 ×21÷20 × 21÷20 × 21÷20)3 - 15000]

= (18522 - 15000) = Rs. 3522