Question

Calculate compound interest on 1000 rs over a period of 1 year at 10 % peru annum if interest is compound quarterly

Answer 1

Answer:

P=Rs. 1000

R= 10%

T= 1 year

CA=1000(1+10/100)¹

= 1000( 100+10/100)¹

= 1000×110/100

CA= 11

then, find CI

CI= 1000-11

CI= 989

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