Question

Calculate the amount and compound interest on ₹10000 for 9 months at 4,℅ per annum compounded quarterly

Answer 1

Principle=10000
time = 9 months=3 quarters
Rate = 20% per annum = 5% per quarter
=> Amount = Rs. [10000*(1+5/100)^3)]

=Rs.10000 * 21/20 * 21/20 * 21/20 = Rs. 11576.25

Compound interest=11576.25-10000
=1576.25