Question

Shyam deposited in a ban Rs. $7500$ for $6$ months at the rate of $8\%$ interest compounded quarterly. Find the amount the received after $6$ months.

• A. $7803$
• B. $7804$
• C. $7801$
• D. $7805$

Answer 1

The correct option is A $7803$

Sum $=Rs.7500$

Time $=$ $6$ months $=\frac{1}{2}$ year

Rate $=8$%

Compounded quarterly

$A=Sum{(1+\frac{R/4}{100})}^{4T}$

$=7500{(1+\frac{8}{400})}^{4\times \frac{1}{2}}$

$=7500{(1+\frac{1}{50})}^2$

$=7500\times \frac{51}{50}\times \frac{51}{50}$

$=3\times 51\times 51=Rs.7803$ (Answer)