Question

calculate compound interest and amount on 100000 for9 months at 4% per annum compounded quarterly

Answer 1

At first,

principal =100000

rate=4%

time=9months or3/4years

then compound quaterly ;

p=100000

r=4/4%=1%

t=3/4×4=3years

then put the formula of C.I.

Amount=P (1+r/100)^n

=100000 (1+1/100)^3

=100000×101/100×101/100×101/100

=1030301/10

=103030.1

C.I.=A-P

=103030.1-100000

=3030.1