Calculate the amount and compound interest on
(i) ₹15000 for 2 years at 10% per annum compounded annually.
(ii) ₹156250 for 1 year 6 months at 8% per annum compounded half yearly.
(iii) ₹ 100000 for 9 months at 4% per annum compounded quarterly.
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Step-by-step explanation:
(i)
A=P(1+100r)n=15000(1+10010)2=Rs18150
CI=A−P=Rs3150
(ii)
A=P(1+100r/m)n∗m=156250(1+1008/2)1.5∗2=Rs175760
CI=A−P=Rs19510
(iii)
A=P(1+100r/m)n∗m=100000(1+1004/4)0.75∗4=Rs103030.1≈Rs103030
CI=A−P=Rs3030
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