7. Find the amount and compound interest
10,000 borrowed for a year at 12% p.a.
compounded quarterly.
Answers
answer
, given, principal= 10000
rate = 12%
time =1 p.a.
now amount = p(r+1/100)^time
= 10000(12+1/100) ^1
= 10000(1201/100)
= 10000×1201/100
= 120100 rs answer
and now , compound interest= 120100-10000
= 20100
Answer:
120 and 10,120
Step-by-step explanation:
Principal = 10,000
Time = 1 year
Rate = 12%
Compound interest = PTR / 100
= 10000×12×1/100
= ₹120
Amount = principle + interest
= 10,000 + 120
=₹10,120