Given details are,
Principal (p) = Rs 15625
Rate (r) = 16% per annum = 16/4 = 4% (quarterly)
Time (t) = 9 months = 9/12 ×4 = 3quarters of a year
By using the formula,
A = P (1 + R/100) n
= 15625 (1 + 4/100)3
= 15625 (104/100)3
= Rs 17576
∴ CI = Rs 17576 – 15625 = Rs 1951
RD Sharma Solutions Class 8 Mathematics Solutions for Compound Interest Exercise 14.2 in Chapter 14 - Compound Interest
Question 26 Compound Interest Exercise 14.2
Find the compound interest on Rs. 15625 for 9 months, at 16% per annum,compounded quarterly.
Answer:
Given details are,
Principal (p) = Rs 15625
Rate (r) = 16% per annum = 16/4 = 4% (quarterly)
Time (t) = 9 months = 9/12 ×4 = 3quarters of a year
By using the formula,
A = P (1 + R/100)^n
= 15625 (1 + 4/100)^3
= 15625 (104/100)^3
= Rs 17576
∴ CI = Rs 17576 – 15625 = Rs 1951
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Updated On: 27-06-2022
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Answer : Rs. 1951
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