Question

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

Answer 1

Answer:

103.81

Step-by-step explanation:

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*2825761 m/2560000

1*2825761/2560=1103.81

P=1103.81-1000

= 103.81 rupees

Answer 2

Answer:

Given: P=1000,R=10% per annum =

4

10

% per quarter (1 year is 4 quarters) =2.5

T=1 year=4 quarters

CI=P(1+

100

R

)

T

−P

=1000(1+

100

2.5

)

4

−1000

CI=1103.8−1000=103.8

∴ interest over 4 quarters will be Rs.103.8