Question

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

Answer 1

calculate 1000+100=1100

Answer 2

P = 1000
when c.i be quartely than
t = 4 y
r = 10/4 %
A = P [ 1 + r/100 ] ^4
= 1000 [ 1 + 10/4×100 ]^4
=1000 [ 410/400 ]^4
=1000 × 410 × 410 ×410 × 410 /400× 400×400 ×400
=41×41×41×41/4×4×4×4×10
=2825761/2560
=1103.81
A = 1103.81
C.I = A - P
= 1103.81 - 1000
= 103.81 aprox