Question

Find the compound interest on Rs. $125000$ for $9$ months at $8\%$ per annum compounded quarterly

• A. Rs. $1175$
• B. Rs. $7651$
• C. Rs. $7561$
• D. Rs. $6056$

Answer 1

Answer: (B)

Rs. $7651$

Given, $P=125000,$

As compounded quarterly $R=\frac{8}{4}=2\%$

Time $=9$ months$=\frac{9}{12}$ years $=\frac{9}{12}\times 4$quarters $=3$ quarters

We know, Amount $=A={(1+\frac{R}{100})}^n$

$A=125000{\left[\begin{array}{c}1+\left(\begin{array}{c}\frac{2}{100}\end{array}\right)\end{array}\right]}^3=$ Rs. $132651$

C.I $=$ Rs. $\left[\begin{array}{c}132651-125000\end{array}\right]=$ Rs. $7651$