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

37,044

In 9 months there are 3 quarter.

So Rate quarterly = 20% × \(\frac{3 }{4}\) = 15%

We know ,

Amount = Principal × ( 1 + \(\frac{rate }{100}\) )^t

= 32000 × ( 1 + \(\frac{15 }{100}\) )³

= 32000 × \(\frac{21 }{20}\)  × \(\frac{21 }{20}\)  × \(\frac{21 }{20}\) 

= Rs. 37044