Question

calculate compound interest on (int) 100000 for 9 months at 4% per annum compounded quarterly ​

Answer 1

Answer:

It is given that

Principal (P) = 100000

Rate of interest = 4% p.a. or 1% quarterly

Period (n) = 9 months or 3 quarters

We know that

P(1+r/100)

Substituting the values

= 100000(1+1/100)³

By further calculation

=100000×101/100×101/100×101/100

= 103030.10

Here

CI = A - P

Substituting the values

= 103030.10−100000

= 3030.10

Step-by-step explanation:

have a great day

Answer 2

Principal = 100000

Time = 9 months = 9/12 years = 3/4 years

Rate = 4%

Amount = P(1 + R/100)^T

A = 100000(1 + 4/400)^ 3/4*4

A = 100000(404/400)^3

A = 100000 * 404/400 * 404/400 * 404/400

A = Rs.103030.1

CI = Rs.(103030.1 - 100000) = Rs. 3030.1