P = Rs 8, 000T = 9 months = 3 quartersR = 20 % per annum = 5 % per quarter\[A = 8, 000 \left( 1 + \frac{5}{100} \right)^3 \]\[ = 8, 000 \left( 1 . 05 \right)^3 \] = 9, 261The required amount is Rs 9, 261.Now, CI = A - P= Rs 9, 261 - Rs 8, 000
= Rs 1, 261
Find the compound interest on Rs. 8000 for 9 months at 20% per annum compounded quarterly.
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[∵ 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
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