Find the compound interest on Rs. 8000 for 9 months at 20% per annum c

1.	Find the compound interest on Rs. 8000 for 9 months at 20% per annum compounded quarterly
Answer» Principal = Rs.8000 Time =9 months Rate = 20% per annum Interest is compounded quarterly, So Rate of interest will be counted as 20/4 = 5% and time will be 9/3 = 3 Quarter We know that, \({A}={P}\times(1+\frac{R}{100})^t\) \(\Rightarrow={8000}\times({1}+\frac{5}{100})^3\) \(\Rightarrow{A}={8000}\times({1}+\frac{105}{100})^3\) =Rs. 9261 Hence, Compound Interest = Rs. 9261 – Rs 8000 = Rs. 1261

Find the compound interest on Rs. 8000 for 9 months at 20% per annum compounded quarterly

Answer»

Principal = Rs.8000

Time =9 months

Rate = 20% per annum

Interest is compounded quarterly, So Rate of interest will be counted as 20/4 = 5% and time will be 9/3 = 3 Quarter

We know that, \({A}={P}\times(1+\frac{R}{100})^t\)

\(\Rightarrow={8000}\times({1}+\frac{5}{100})^3\)

\(\Rightarrow{A}={8000}\times({1}+\frac{105}{100})^3\) =Rs. 9261

Hence, Compound Interest = Rs. 9261 – Rs 8000 = Rs. 1261