Question

Calculate compound interest on ₹ 1000 over a periodof 1 year at 10%per annum ,if interest is compounded quartely

Answer 1

P = Principal
A = Amount
R = rate
p.a. = per annum / per year
CI = Coumponu Interest
n = conversion periods
₹ = Indian currency

Concepts used :

1) Formula to calculate CI

$ci \: = {p((1 + \frac{r}{100})}^{n} - 1)$
2)
Substituting the values to a variable

3)
Equation