Calculate the compound interest (CI) for 24,000 in 9 months if theinte – InterviewSolution

1.	Calculate the compound interest (CI) for 24,000 in 9 months if theinterest is compounded quarterly at the rate of 8% per annum
Answer» principal amount = 24000rate = 8 percentage annually8/4 = 2 % quaterlytime = 9 month = 3 quarter24000[1+2/100]^324000*1.0625468.992compound interest = 25468.992-240001468.992 rupees

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