calculate the amount and compound interest on rupees 4000 for 1 year at 16% per annum compounded quarterly
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Answer:
P=4000
R= 16% p.a. compounded annually and 4 % pa. compounded quarterly
T=1 year = 4 quarter year
A=4000(1 + 4/100)⁴
=4000* (26/25)⁴
=1827904000/390625
=Rs 4679.43424
CI=4679.43424-4000=679.43424
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