Question

calculate compound interest on 1000 over a period of 1 year at 10% per annum if interest is compounded quarterly

Answer 1

Answer:

103.807125 is the answer

Step-by-step explanation:

working is in the pic

Answer 2

$\large \bold{ \underline{ \underline{ \sf \:Answer : \: \: \: }}}$

$\to$ Compound interest = ₹ 103.8

$\large \bold{ \underline{ \underline{ \sf \:Explaination : \: \: \: }}}$

Given ,

$\star$ P = 1000

$\star$ Rate ( r ) = 10 %

$\star$ Time ( t ) = 1 year

It is compounded quarterly ,

thus n = 1 ÷ 0.25 = 4

$\sf \to A = p(1 + \frac{r}{4 \times 100} )^{nt} \\ \\ \sf \to A= 1000(1 + \frac{10}{4 \times 100} )^{1 \times 4} </p><p> \\ \\ \sf \to</p><p>A = 1000(1 + 0.025)^{ 4} \\ \\\sf \to A = 1000 \times {1.025}^{4} \\ \\\sf \to A= 1103.8$

Amount = ₹ 1103.8

Compound Interest = 1103.8 - 1000

$\star$ Compound Interest = ₹ 103.8

$\therefore$ The required value of compound Interest is ₹ 103.8