Compound interest on Rs. 12500 at 8 % per annum for 9 months compounded quarterly (In Rs. )

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6.Interest

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

A

$1020$

B

$1428$

C

$510$

D

$765$

Solution

Because amount compound quarterly

So, Year $=$ year $\times 4,$ Rate $=\frac{\text { rate }}{4}$

$\therefore$ year $=\frac{9}{12} \times 4=3$ years, rate $=\frac{8}{4}=2 \%$

$\therefore C I=12500\left[\left(1+\frac{2}{100}\right)^{3}-1\right]=\operatorname{Rs} .765$

Standard 13

Quantitative Aptitude

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