Q19 of 52 Page 112

Let us write by calculating compound interest on ₹6250 for 9 months at the rate of 10% compound interest per annum compounded at the interval of 3 months.

We know that if the rate of compound interest is r% per annum and the interest is compounded quarterly, the number of phase of compound interest in a year is 4, then the amount for n years


From given, p = ₹6250, r = 10 and years


∴ Amount for 9 months or 3/4 year





= ₹6730.56


∴ Compound interest for 9 months = ₹6730.56 - ₹6250


= ₹480.56


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