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A certain sum amount to Rs 24080 in 9 month at 6% interest compounded quarterly determine the sum

Posted by Gaurav Sharma 7 years ago

CBSE > Class 08 > Mathematics

1 answers

Ujjwal Nandi 6 years ago

Here, Amount = Rs. 24080.00

Time = 9 months = 3/4 yr

rate of interest = 6%

P = ?

We know,

A = P ( 1 + r / 400 )⁴ⁿ

=> 24080 = P ( 1 + 6/400)^4x3/4

=> 24080 = P(406/400)³

=> 24080 = P (1.015)³

=> 24080 = P x 1.0456

=> P = 24080/1.0456

=> P = 23029.84 (appprox)

1Thank You

ANSWER

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