Question

Find the compound interest on Rs. 50000 for 9 months at 8 percent per annum compounded quarterly.​

Answer 1

Answer:

• ₹ 3060.40

Step-by-step explanation:

Given:

• Principal P = ₹ 50000
• Interest rate r = 8% PA
• Time t = 9 months = 9*1/12 years = 3/4 years
• Number of compounds per year n = 4

The amount of interest:

• $I = P*(1+r/n)^{nt} - P$
• $I = 50000*(1+8/4*1/100)^{4*3/4}-50000= 3060.40$

Answer 2

Answer:

Rs. 3060.4

Step-by-step explanation:

$\sf{ A = P \times (1 + \frac{r}{n})^{nt} }$

$\sf{ A = 50000 \times (1 + \frac{8}{4} \times \frac{1}{100} )^{4 \times \frac{3}{4}} }$

$\sf{ A =53060.4 }$

.

compound interest

$\sf{ Ci = A - P}$

$\sf{ Ci = 53060.4 - 50000}$

$\sf{ Ci = 3060.4 }$