Find the compound interest (in ₹) on ₹ 15625 | vedclass

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(C) Given: Principal $(P) = ₹ 15625$,Rate $(R) = 16 \%$ per annum,Time $(n) = 9$ months.Since the interest is compounded quarterly,the rate per quarte

Vedclass · Accepted Answer

$1951$

Vedclass · Answer

(C) Given: Principal $(P) = ₹ 15625$,Rate $(R) = 16 \%$ per annum,Time $(n) = 9$ months.Since the interest is compounded quarterly,the rate per quarter is $R' = 16 / 4 = 4 \%$ and the number of quarters is $n' = 9 / 3 = 3$.The formula for compound interest is $CI = P \left[ (1 + R'/100)^{n'} - 1 ight]$.Substituting the values: $CI = 15625 \left[ (1 + 4/100)^3 - 1 ight]$.$CI = 15625 \left[ (1 + 1/25)^3 - 1 ight] = 15625 \left[ (26/25)^3 - 1 ight]$.$CI = 15625 	imes \left( \frac{17576 - 15625}{15625} ight)$.$CI = 17576 - 15625 = ₹ 1951$.

Find the compound interest (in ₹) on ₹ $15625$ for $9$ months at $16 \%$ per annum compounded quarterly.

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