Question

5. Find the amount and compound interest at the rate of 10% per annum for 1.5 years on the amount of 58000 when compounded quarterly.​

Answer 1

Step-by-step explanation:

SOLUTION:-

════════════

Given:

Principal,[P]= Rs.8000

Rate,[R]= 10% p.a.

Time,[n]= 1.5 years

To find:

══════

The amount & compound Interest.

Explanation:

══════════

The Interest is compound quarterly: 4 months

So,

We know, Compound Interest:

C.I.= Amount- Principal

&

Therefore,

Now,

C.I.= Rs.8834.08 - Rs.8000

C.I.= Rs.834.08