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CBSE Class 8 Answered

Find the compound interest on 15625 at 16% per annum for nine months when  Compounded quarterly
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Asked by Shivankapilsharma | 04 Dec, 2018, 05:14: PM
answered-by-expert Expert Answer
According to the question,
 
P = Rs. 15625, r = 16% per annum = 16%/4 per quarter = 4% per quarter
n = 9 months = 3 quarters
Amount = P(1 + r/100)n = 15625(1 + 4/100)3 = Rs. 17576
Interest = A - P = 17576 - 15625 = Rs. 1951
Answered by Sneha shidid | 05 Dec, 2018, 09:31: AM

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