What is the compound interest on Rs 16000 at 20 Pa for 9 months compounded quarterly?
Mr. Murthy invested Rs.16,000 in a scheme. How much will he get on maturity. If he invested it at 20% per annum compound interest for 9 months, compounded quarterly?
Show
Let's discuss the concepts related to Interest and Compound Interest. Explore more from Quantitative Aptitude here. Learn now! Uh-Oh! That’s all you get for now. We would love to personalise your learning journey. Sign Up to explore more. Sign Up or Login Skip for now Uh-Oh! That’s all you get for now. We would love to personalise your learning journey. Sign Up to explore more. Sign Up or Login Skip for now Solution Principal (P) = Rs.8000 Rate (R) =20% p.a or 5% p.a quarterly Period (T) = 9 months or 3 quarters Interest for the first quarterly =8000×5×1100=Rs.400 [∵ Simple interest = P×T×R×100 Amount after first quarter = Rs. 8000 + Rs. 400 = Rs. 8400 Or principal for the second year = Rs. 8400 ∴ Interest for the second quarter =8400×5×1100=Rs.420 ∴ Amount after second quarter = Rs. 8400 + Rs. 420 = Rs. 8820 Or principal for the third quarter = Rs. 8820 ∴ Interest for the third quarter =8820×5×1100=Rs.441 ∴ Compound interest for 9 months or 3 quarters = Rs. 400 + Rs. 420 + Rs. 441 = Rs. 1261 (adsbygoogle = window.adsbygoogle || []).push({});Solve Textbooks Question Papers What is the compound interest in 16000 for 9 months at 20?The compound interest on Rs. 16000 for 9 months at `20%` p.a, compounded quarterly is Rs. 2522.
What will be the compound interest of Rs 16000 for 9 months?The compound interest on Rs. 16000 for 9 months at 20% p.a, compounded quarterly is Rs. 2522.
How do you calculate compound interest in 9 months?6250
The rate of compound interest is 10%. Time `=9` months` =9/12` year `=3/4` year. How do you calculate compound interest compounded quarterly?Cq = P [ (1+r)4*n – 1 ]. Cq is the quarterly compounded interest.. P would be the principal amount.. r is the quarterly compounded rate of interest.. n is the number of periods.. |
