calculate compound interest on 1000 rupees over a period of one year at ten percent per annum if interest is compounded quarterly
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Answered by
8
One year = 4 quarters
A=> 1000(1+(10/4)/100)^4
=> 1000(1+5/2*1/100)^4
=> 1000(1+1/40)^4
=> 1000(41/40)^4
=> 1000*2825761m/2560000
1*2825761/2560=1103.81
Ci=a:-P=>1103.81-1000
=>103.81 rupees.
A=> 1000(1+(10/4)/100)^4
=> 1000(1+5/2*1/100)^4
=> 1000(1+1/40)^4
=> 1000(41/40)^4
=> 1000*2825761m/2560000
1*2825761/2560=1103.81
Ci=a:-P=>1103.81-1000
=>103.81 rupees.
Answered by
1
So, CI is Rs 103.81 rs
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