Find compound interest on sum of ₹12000 at rate of 8% per annum  for 1 year compounded quarterly

Asked by Varalakshmi5747 | 20th Jan, 2019, 09:29: AM

Expert Answer:

 
begin mathsize 16px style straight A space equals space straight P space open parentheses 1 space plus space straight R over 100 close parentheses to the power of straight N space equals space 12000 open parentheses 1 space plus space 8 over 100 close parentheses to the power of 1 space equals space 12000 space cross times space 108 over 100 space equals space 120 space cross times space 108 space equals space 12960
end style\
Compound interes = A - P = 12960 - 12000 = RS. 960

Answered by Yasmeen Khan | 21st Jan, 2019, 10:39: AM