Question

10. Find the amount and compound interest at
the rate of 20% per annum for 0.5 years on
the amount of 8000 when compounded
quarterly​

Answer 1

Given:

• Rate :- 20%
• Time :- 0.5 yrs
• Principle :- ₹8000

To Find:

Amount and compound interest.

Solution:

Here given that rate is 20% per annum for 0.5 yrs on the amount of ₹8000.

Amount:-

☞ A = p [1+(r/4)/100]^4n

➡ 8000 [1+(20/4)/100]^4×0.5

➡ 8000 [1+5/100]^2

➡ 8000 (105/100)^2

➡ 8000×105/100×105/100

➡ ₹ 8820.

Compound Interest:-

☞ CI = A - P

➡ ₹ (8820-8000)

➡ ₹ 820

•°• Hence we get amount = ₹8820

and Compound Interest= ₹820.