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OpenStudy (anonymous):
Find the compound interest on Rs.12000 at 20% per annum, for 9 months, compounded quarterly.
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ganeshie8 (ganeshie8):
3 months = 1 quarter There are four quarters in one year. So the quarterly interest rate is 20%/4 = 5%
ganeshie8 (ganeshie8):
does that help you get started ?
OpenStudy (anonymous):
Shouldn't it be 12000(1 + 20/100)^9 x 4/12 ? @ganeshie8
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