Question

1) Find the composed intrest on Rs 64000 for
for 1 year
at the rate of 10 per compoundsd quately.​

Answer 1

Answer:

Here given,

Principal = Rs 64000

Time = 1 year

and Rate = 10 %

Now we know that compund interest compounded quarterly i.e. Amount = P(1 + r/n)^nt

By keeping the values we get

Amount = 64000 (1 + 1/4)^4

= 64000 (1.025)^4

= 70644.025

Now that we know the amount, we will find the compound interest using formula

Compound interest = Amount – Principal

= 70644.025 – 64000

= Rs 6644.025

$\therefore$ Rs. 6644.025 is the solution.

@MissOptimism ❤️ :)