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Sunil lent ₹ 15,000 for 9 months of the rate of 8% per annum compounded quarterly. What interest dies he recive at the end of 9 months?
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Sunil lent ₹ 15,000 for 9 months of the rate of 8% per annum compounde...
C.I.=P(1 + 1/4 R/100)^4N
A=15000 (1 + 2/100)^3
15000*102/100*102/100*102/100
15*102*102*102/1000
15918120/1000
15918.120
C.I.=15918-15000
RS.918
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Sunil lent ₹ 15,000 for 9 months of the rate of 8% per annum compounde...
Solution:

To find the interest Sunil will receive at the end of 9 months, we need to calculate the compound interest using the formula:

A = P(1 + r/n)^(nt)

Where:
A = the final amount including interest
P = the principal amount (the initial amount lent)
r = the annual interest rate (as a decimal)
n = the number of times that interest is compounded per year
t = the time in years

Let's calculate the interest step by step:

Step 1: Identify the given values
Principal amount (P) = ₹ 15,000
Annual interest rate (r) = 8% = 0.08 (as a decimal)
Time (t) = 9 months = 9/12 = 0.75 years
Interest compounded quarterly, so the number of times compounded per year (n) = 4

Step 2: Calculate the compound interest (A)
A = P(1 + r/n)^(nt)
A = ₹ 15,000(1 + 0.08/4)^(4 * 0.75)
A = ₹ 15,000(1 + 0.02)^3
A = ₹ 15,000(1.02)^3
A ≈ ₹ 15,000(1.061208)
A ≈ ₹ 15,918.12

Step 3: Calculate the interest received
Interest received = A - P
Interest received = ₹ 15,918.12 - ₹ 15,000
Interest received ≈ ₹ 918.12

So, Sunil will receive approximately ₹ 918.12 as interest at the end of 9 months.

Key Points:
- Principal amount (P) = ₹ 15,000
- Annual interest rate (r) = 8% = 0.08 (as a decimal)
- Time (t) = 9 months = 9/12 = 0.75 years
- Number of times compounded per year (n) = 4
- Compound interest formula: A = P(1 + r/n)^(nt)
- Compound interest received = A - P
- Sunil will receive approximately ₹ 918.12 as interest at the end of 9 months.
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Sunil lent ₹ 15,000 for 9 months of the rate of 8% per annum compounded quarterly. What interest dies he recive at the end of 9 months?
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Sunil lent ₹ 15,000 for 9 months of the rate of 8% per annum compounded quarterly. What interest dies he recive at the end of 9 months? for Class 8 2024 is part of Class 8 preparation. The Question and answers have been prepared according to the Class 8 exam syllabus. Information about Sunil lent ₹ 15,000 for 9 months of the rate of 8% per annum compounded quarterly. What interest dies he recive at the end of 9 months? covers all topics & solutions for Class 8 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Sunil lent ₹ 15,000 for 9 months of the rate of 8% per annum compounded quarterly. What interest dies he recive at the end of 9 months?.
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