Compound interest (In ₹) on ₹ 12000 for 9 months at 20 % per annum, interest being compounded qu

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6.Interest

hard

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

A

$1891.50$

B

$1901.50$

C

$1791.50$

D

None of these

Solution

(a) Here, $P=12000, R=20$ and $t=\frac{9}{12}$

$\therefore \quad CI =P\left[\left(1+\frac{R}{100 \times 4}\right)^{4 \times t}-1\right]$

$=12000\left[\left(1+\frac{20}{100 \times 4}\right)^{4 \times \frac{9}{12}}-1\right]$

$=12000\left[\left(1+\frac{1}{20}\right)^{3}-1\right]=\frac{12000 \times 1261}{20 \times 20 \times 20}$

$=₹ 1891.50$

Standard 13

Quantitative Aptitude

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