Question

Calculate compound interest on 1000 over a period of 1 year at 10% per annum, if interest is compounded quarterly?
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Answer 1

Hello :)

To calculate compound interest,

First use the following formula to calculate the amount

$a=p(1+\frac{r}{n} )^{nt}$

Then subtract principal from amount to get the compound interest.

Here,

P = 1000

rate, r = 10%

time, t = 1 year

it is compounded quarterly,

thus n = 1 ÷ 0.25 = 4

$A=p(1+\frac{r}{4*100} )^{nt}$

$A=1000(1+\frac{10}{4*100} )^{1*4}$

$A=1000(1+0.025} )^{4$

$A=1000*1.025^{nt}$

$A=1103.8$

Amount = ₹1103.8

Compound Interest = 1103.8 - 1000 = ₹103.8

hope it helps!!

pls mark as brainliest!!

Answer 2

Step-by-step explanation:

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