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19 vote

Find the compound interest on Rs. 12550 for 9 months at 12% per annum compounded quarterly.

Asked on by | Votes 19 | Views: 485 | Tags: interest     | simple interest     | quantitative aptitude     | Add Bounty

Find the compound interest on Rs. 12550 for 9 months at 12% per annum compounded quarterly.
1). Rs. 1164
2). Rs. 1125.18
3). Rs. 1198.72
4). Rs. 1164.32


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1 answers

33 vote
Answered by on | Votes 33 |

We know that,

Compound Interest $(= P \times {\left( {1 + \frac{r}{n}} \right)^{nt}} - P)$

∴ Answer $(= 12550 \times {\left( {1 + \frac{{0.12}}{4}} \right)^{4 \times \frac{9}{{12}}}} - 12550 \approx 1164)$
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