Question

Find the compound amount which would be obtained from an interest of $Rs2000$ at the $6$ interest, compounded quarterly, for $9$ months

Answer 1

$CI=P\left[\right(1+\frac{R}{100}{)}^n-1]$

$CI=2000\left[\right(1+\frac{6}{100}{)}^3-1]$

$⟹CI=Rs.382.032$