Calculate the amount and compound interest by the simple interest method on 1,20,000 Conversion Peri for 1 year at 16% per annum compounded quarterly.
( Answer it as soon as possible please... It will really help me a lot & I will mark you as brainiest ☺️. )
Answers
Answered by
1
Answer:
20,000
1 year compounded semi-annually
Rate=16%
As the interest is compounded semi-annually so the rate is divided by 2
and the time is multiply by 2
∴A=P(1+2×100R)
T×2
⇒A=20,000(1+ 100
8 ) 2
⇒A=20,000×100 x 108 x 100
108
⇒A=2×108×108
⇒A=Rs.23328
∴C.I=23328−20000=Rs.3328
Similar questions