The compound interest on ₹12000 for 9 months at 20% per annum, interest being compounded quarterly is: ?->(Show Answer!)

1. The compound interest on ₹12000 for 9 months at 20% per annum, interest being compounded quarterly is:

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By: anil on 05 May 2019 02.19 am

Principal amount = Rs. 12,000 at rate of interest = 20% Time period = $$frac{9}{12}=frac{3}{4}$$ years Compound interest compounding quarterly = $$P[(1+frac{R}{400})^{4T}-1]$$ = $$12,000[(1+frac{20}{400})^{4 imesfrac{3}{4}}-1]$$ = $$12,000[(1+frac{1}{20})^3-1]$$ = $$12,000[(frac{21}{20})^3-1]$$ = $$12,000 imes(frac{9261-8000}{8000})$$ = $$1.5 imes1261=Rs.$$ $$1891.50$$ => Ans - (B)

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