#### Find the amount and the compound interest on ₹ 100000 compounded quarterly for 9 months at the rate of 4% p.a.

**Solution:**

It is given that

Principal (P) = ₹ 100000

Rate of interest = 4% p.a. or 1% quarterly

Period (n) = 9 months or 3 quarters

We know that

A = P (1 + r/100)^{n}

Substituting the values

= 100000 (1 + 1/100)^{3}

By further calculation

= 100000 × 101/100 × 101/100 × 101/100

= ₹ 103030.10

Here

CI = A – P

Substituting the values

= 103030.10 – 100000

= ₹ 3030.10

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