Compound Interest Quarterly
Compound Interest Quarterly
Calculating Interest Compound Quarterly:
In this case the rate is divided by 4 and the time in years is multiplied by 4.
1. Find the compound interest on Rs. 160000 for 12 months at 820% per annum, compounded quarterly.
Principal= Rs 160000
Time = 12 months
Rate = 20% = 5 % when compounded quarterly
Compound Interest = amount - principal
= 194481-160000
= 34481 Rs.
Find the compound interest on 10,000 Rupees if Rohit took loan from a bank for 1 year at 8 % per annum, compounded quarterly? | |||
| Right Option : C | |||
| View Explanation | |||
SHYAM deposited Rs. 75000 in a bank which pays him 16% interest per annum compounded quarterly. What is the amount which he receives after 3 months. | |||
| Right Option : A | |||
| View Explanation | |||
Ramesh deposited Rs. 7500 in a bank which pays him 12% interest per annum compounded quarterly. What is the amount which he receives after 9 months? | |||
| Right Option : D | |||
| View Explanation | |||
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