Find the compound interest on Rs. 12500 at 8 | vedclass

Name: Exam Paper Generator | JEE NEET Paper Generator | Vedclass
Brand: Vedclass
Rating: 5 (35 reviews)

Question

(D) Given: Principal $(P) = 12500$,Rate $(R) = 8 \%$ per annum,Time $(T) = 9$ months.Since the interest is compounded quarterly,we adjust the rate and

Vedclass · Accepted Answer

$765$

Vedclass · Answer

(D) Given: Principal $(P) = 12500$,Rate $(R) = 8 \%$ per annum,Time $(T) = 9$ months.Since the interest is compounded quarterly,we adjust the rate and time period:Number of quarters in $9$ months $= 9 / 3 = 3$ quarters.Quarterly rate $= 8 \% / 4 = 2 \%$.Using the compound interest formula: $CI = P 	imes [(1 + R/100)^n - 1]$,where $n$ is the number of quarters.$CI = 12500 	imes [(1 + 2/100)^3 - 1]$$CI = 12500 	imes [(1.02)^3 - 1]$$CI = 12500 	imes [1.061208 - 1]$$CI = 12500 	imes 0.061208 = 765.1$Rounding to the nearest integer,the compound interest is $Rs. 765$.

Find the compound interest on $Rs. 12500$ at $8 \%$ per annum for $9$ months compounded quarterly (in $Rs.$).

Similar Questions

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

$A$ sum put out at $4 \%$ compound interest payable half-yearly amounts to ₹ $6632.55$ in $1 \frac{1}{2}$ years. The sum (in ₹) is

The compound interest (in ₹) on ₹ $10000$ at $20 \%$ per annum at the end of $1$ year $6$ months,if the interest is calculated half-yearly,will be:

$A$ tree increases annually by $\frac{1}{8}$ of its height. By how much will it increase (in $cm$) after $2$ years,if it stands today $64 \ cm$ high?

On a certain sum of money,the simple interest for $2$ years is ₹ $200$ at the rate of $7 \%$ per annum. Find the difference between compound interest $(CI)$ and simple interest $(SI)$. (In ₹)

Vedclass Test Series

Exam Paper Generator

Online Exam Module