Arun undertook a loan of Rs.390625 from a Kuber finance If the company charges interest at the rate of 16% per annum compound quarterly. What amount will discharge his debt after 1 year ?
Answers
Answered by
81
Solution :-
Principal = Rs. 390625
As the interest is compounded quarterly @ 16 % per annum, the rate of interest will be 1/4th of 16 %
R = 16/4 = 4 %
Time is 1 year and there are 4 quarters in a years.
So,
T = 4
A = P(1 + R/100)ⁿ
A = 390625(1 + 4/100)⁴
A = 390625 × 104/100 × 104/100 × 104/100 × 104/100
A = 390625 × 1.04 × 1.04 × 1.04 × 1.04
A = 456976
Arun will have to pay Rs. 456976 after 1 year to discharge his debt.
Answer.
Principal = Rs. 390625
As the interest is compounded quarterly @ 16 % per annum, the rate of interest will be 1/4th of 16 %
R = 16/4 = 4 %
Time is 1 year and there are 4 quarters in a years.
So,
T = 4
A = P(1 + R/100)ⁿ
A = 390625(1 + 4/100)⁴
A = 390625 × 104/100 × 104/100 × 104/100 × 104/100
A = 390625 × 1.04 × 1.04 × 1.04 × 1.04
A = 456976
Arun will have to pay Rs. 456976 after 1 year to discharge his debt.
Answer.
Answered by
39
Answer: 456976rupees
Step-by-step explanation:
Principal=390625
Rate=16% =4%(compounded quaterly)
Time=1 year =4 quater years
Amount =P(1+ R/100)n
=390625(1+4/100)×4
390625×26/25×26/26×26/25×26/25
=456976
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