Question

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

Answer 1

Answer:

ok

Step-by-step explanation:

if rs 1000

interst 10 per annu

then

1400

Answer 2

Solution :

• Principal = Rs 1000
• Time = 1 year
• Rate = 10% per annum
• Intrest is compound quarterly

So,

$\red{ \boxed{ \sf \: |Amount \: after \: 1 \: year = p(1 + \frac{Rate}{4}) {}^{4n} | }}$

here,

• p = principal
• R = rate
• n = time period

= 1000(1 + 10/4)⁴*¹

= 1000[(4 + 10)/4]⁴

= 1000(14/4)⁴

= 1000 (7/2)⁴

= 1000 × 7/2 × 7/2 × 7/2 × 7/2

= 1000 × 2401/16

= 2,401,000/16

= 150,062.5

Compound Interest = Amount - principal

Compound Interest = 150,062.5 - 1000

Compound Interest = 149,062.5

Hence

• Compound Interest is Rs 149,062.5

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