calculate compound intrest on rs 1000 over a period of 1 year at 10%
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Answer:
100
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Answer:
Given: P=1000,R=10% per annum = 10/4
% per quarter (1 year is 4 quarters) =2.5
T=1 year=4 quarters
CI=P(1+ R/100 )−P
=1000(1+ 1002.5 )4square −1000
CI=1103.8−1000=103.8
∴ interest over 4 quarters will be Rs.103.8
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