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Find the compound interest on Rs. 8000 for 9 months at 20% per annum compounded quarterly. Principal = Rs.8000 Time =9 months Rate = 20% per annum ∵ Interest is compounded quarterly, So Rate of interest will be counted as 20/4 = 5% and time will be 9/3 = 3 Quarter We know
that,
Hence, Compound Interest = Rs. 9261 – Rs 8000 = Rs. 1261 Given details are, Principal (p) = Rs 8000 Rate (r) = 20 % = 20/4 = 5% (for quarterly) Time = 9 months = 9/3 = 3 (for quarter year) By using the formula, A = P (1 + R/100) n = 8000 (1 + 5/100)3 = 8000 (105/100)3 = Rs 9261 ∴ Compound Interest = A – P = Rs 9261 – Rs 8000 = Rs 1261 Find the compound interest on Rs. 8000 for 9 months @ 12% p.a., when interest is compounded quarterly.
Answer (Detailed Solution Below)Option 1 : 741.81
 Free CT 1: Growth and Development - 1 10 Questions 10 Marks 10 Mins Given: Principal = Rs. 8000 Time = 9 Months Rate of interest = 12% p.a. Formula Used: Compound interest = Principal × (1 + Rate%/100)Time - Principal Calculation: Interest is compounded quarterly, So Time = 9/3 = 3 Rate of interest = 12%/4 = 3% p.a. Compound interest = Principal × (1 + Rate%/100)Time - Principal ⇒ Compound interest = 8000 × (1 + 3/100)3 - 8000 ⇒ Compound interest = 8741.81 - 8000 ⇒ Compound interest = Rs. 741.81 ∴ Compound interest is Rs. 741.81 The correct option is 1 i.e. Rs. 741.81 Last updated on Sep 29, 2022 REET 2022 Written Exam Result Out on 29th September 2022! The final answer key was also out with the result. The exam was conducted on 23rd and 24th July 2022. The candidates must go through the REET Result 2022 to get the direct link and detailed information on how to check the result. The candidates who will be finally selected for 3rd Grade Teachers are expected to receive Rs. 23,700 as salary. Then, the candidates will have to serve the probation period which will last for 2 years. Also, note during probation, the teachers will receive only the basic salary. Stay updated with the Quantitative Aptitude questions & answers with Testbook. Know more about Interest and ace the concept of Compound Interest.
Register now for special offers +91 Home > English > Class 8 > Maths > Chapter > Compound Interest > Find the compound interest on ... UPLOAD PHOTO AND GET THE ANSWER NOW! Text Solution Solution : `p=8000`<br>`T=9`months `=3` quarter<br>`R=20%=5%`quarter<br>`CI = p (1+R/100)t -p`<br>`=8000(1+5/100)3 -` Rs `8000`<br>`= 8000× 21/20×21/20×21/20-`Rs `8000`<br>`=9261-8000`<br>`=1261` Answer Step by step solution by experts to help you in doubt clearance & scoring excellent marks in exams. Add a public comment... Follow Us: Popular Chapters by Class: What is the compound interest of 8000 for 6 month at 20% per annum compounded quarterly?Compound interest will be=(9261-8000)=Rs1261.
What will be the compound interest on Rs 8000 at 16% per annum for 6 months when interest is compounded quarterly?By putting the given values in above equation, =8000(1+20. 16)2×1=8000(1. 08)2=9331.
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.. What will be the compound interest on 8000 for 3 years at 5% pa?So compound interest is 9261.
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Find the compound interest on Rs 8000 for 9 months at 20% per annum compounded quarterly
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