Math, asked by m39763995, 2 months ago

calculate compound interest on Rs 1000 over a period of 1 year at 10 % per annum ,if interest is compound quarterly?​

Answers

Answered by gowriprabhu07
1

Answer:

Amount = 1076.89

Compound Interest = 76.89

Step-by-step explanation:

Principal ( P ) = 1000

Rate ( R ) = 10 %

Time ( n ) = 1 year

Compound Interest ( CI ) = Amount (A) - Principal (P)

Amount = ?

Amount = P ( 1  +  \frac{R}{4 * 100 } )^{4 (n)}

              = 1000 ( 1 + \frac{10}{400} )^{4}

              = 1000 ( 1 + \frac{1}{40})^{4}

              = 1000 × \frac{41}{40} × \frac{41}{40} × \frac{41}{40}

              = 1076.89

CI = A - P

   = 1076.89 - 1000

   = 76.89

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