10000 for 6 months at 2% per annum compounded quarterly
Answers
Step-by-step explanation:
P=Rs. 10000
T=12 months=1year
R=10% p.a
Compounded quarterly
∴n=4
A=P(1+
n
R
)
nT
=10000[1+
4
10
]
4×1
=10000×(
4
14
)
4
=10000×(
2
7
)
4
=
2×2×2×2
10000×7×7×7×7
A=Rs. 1500625
Compound Interest=Amount−P
=Rs. (1500625−10000)
=Rs. 1490625.
Step-by-step explanation:
Principle= 10000, time= 6 months= 6× 1/4= 3/2, rate of interest= 2%
by PRT method:
1st quarter months
I = PRT/100
= 10000×3/2×2/100
I = 300
Amount¹ = P+I
= 10000+300= 10300
2nd quarter month
I = PRT/100
= 10300×3/2×2/100
= 309
A²= 10300+309
= 10609
3rd quarter month
I = PRT/100
=10609×3/2×2/100
= 318.27
A³ = 10609+318.27
= 10927.27
4th quarter month
I = PRT/100
= 10927.27×3/2×2/100
= 327.8181
A⁴= 10927.27+327.8181
=11255.0881
CI= A⁴- P¹
= 11255.0881- 10000
=1255.0881
hope this helps you.
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