What is the amount (in Rs.) of a sum of Rs. 32,000 at 20% per annum for 9 months, compounded quarterly?

Solution (By Examveda Team)

$$\eqalign{ & {\text{Principal}} = {\text{Rs}}{\text{. }}32000 \cr & {\text{Rate}} = 20\% {\text{ p}}{\text{.a}}{\text{.}} \cr & = \frac{{20}}{4}\% = 5\% {\text{ quarterly}} = \frac{1}{{20}} \cr & {\text{Time}} = 9{\text{ months}} = \frac{9}{{12}} \times 4 = 3 \cr} $$
\[\begin{array}{*{20}{c}} {{\text{Principal}}}&{}&{{\text{Amount}}} \\ {{{\left( {20} \right)}^3}}&:&{{{\left( {21} \right)}^3}} \\ {8000}&:&{9261} \\ {\,\,\,\,\,{ \downarrow ^{ \times 4}}}&{}&{\,\,\,\,\,{ \downarrow ^{ \times 4}}} \\ {{\text{Rs}}{\text{. }}32000}&{}&{\boxed{{\text{Rs}}{\text{. }}37044}} \end{array}\]