Ramesh deposited Rs 7500 in a bank which pays him 12% interest per annum compounded quarterly What is the - Maths -

Question

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

Global Expert · Accepted Answer

Given:P=Rs 7,500R=12% p a
=3% quarterlyT=9 months=3 quartersWe know that:A=P1+R100nA=7,5001+31003=7,5001
033=8,195
45Thus, the required amount is Rs 8,195
45

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.