Q12 of 89 Page 14

Ramesh deposited Rs. 7500 in a bank which pays him 12% interest per annum compounded wuarterly. What is the amount which he receives after 9 months.

Given,


Principal = Rs.7500


Rate = 12% =


Time = 9 months =


Hence,


Compound interest =


=


Amount he receives after 9 months = principal + compound interest


= 7500+695.45 = Rs.8195.45


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