What is the compound interest on Rs 8000 at 20% per annum for 9 months compounded quarterly?

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[$\because$ Simple interest = $\frac{P\times T\times R\times }{100}$ Amount after first quarter = Rs. 8000 + Rs. 400 = Rs. 8400 Or principal for the second year = Rs. 8400

$\therefore$ Interest for the second quarter

$\therefore$ Interest for the third quarter

P = Rs 8, 000T = 9 months = 3 quartersR = 20 % per annum = 5 % per quarter\[A = 8, 000 \left( 1 + \frac{5}{100} \right)^3 \]\[ = 8, 000 \left( 1 . 05 \right)^3 \] = 9, 261The required amount is Rs 9, 261.Now, CI = A - P= Rs 9, 261 - Rs 8, 000

= Rs 1, 261