The compound interest (in ₹) on ₹ 12000 for 9 | vedclass

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(A) Given: Principal $(P)$ = ₹ $12000$,Rate $(R)$ = $20 \%$ per annum,Time $(t)$ = $9$ months = $\frac{9}{12} = 0.75$ years.Since the interest is comp

Vedclass · Accepted Answer

$1891.50$

Vedclass · Answer

(A) Given: Principal $(P)$ = ₹ $12000$,Rate $(R)$ = $20 \%$ per annum,Time $(t)$ = $9$ months = $\frac{9}{12} = 0.75$ years.Since the interest is compounded quarterly,the rate per quarter = $\frac{20}{4} = 5 \%$ and the number of quarters $(n)$ = $9$ months / $3$ months = $3$.Using the compound interest formula: $CI = P \left[ (1 + \frac{r}{100})^n - 1 ight]$,where $r$ is the quarterly rate.$CI = 12000 \left[ (1 + \frac{5}{100})^3 - 1 ight]$$CI = 12000 \left[ (1.05)^3 - 1 ight]$$CI = 12000 \left[ 1.157625 - 1 ight]$$CI = 12000 	imes 0.157625 = ₹ 1891.50$.

The compound interest (in ₹) on ₹ $12000$ for $9$ months at $20 \%$ per annum,interest being compounded quarterly,is

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