Q. 94.0( 9 Votes )

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,




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


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