Ramesh deposited Rs. 7500 in a bank which pays him 12% interest per annum compounded wuarterly. What is the amount which he receives after 9 months.
Given,
Principal = Rs.7500
Rate = 12% = 
Time = 9 months = 
Hence,
Compound interest = 
= 
Amount he receives after 9 months = principal + compound interest
= 7500+695.45 = Rs.8195.45
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