Question

Question #57106

Answer 1

Rs.15918/-

Explanation:

Interest charges quarterly means 4 times in a year.

So, r = 8/4 = 2. n = 9/12 years = 3/4 years. p = 15,000/-.

We know, A = `P(1+r/100)^n` [ A means principal + Interest]

`rArr A = 15000(1+2/100)^(4 xx 3/4)`
`rArr A = 15000 (51/50)^3`
`rArr A = 15000. 51/50. 51/50. 51/50`
`rArr A = 15,918.12 = 15,918`

She has to pay Rs. 15,918/- at the end of 9 months.