Question

Calculate the amount and the compound interest on * 10000 for 6 months at 12% per annum,
compounded quarterly.
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Answer 1

Answer:

P = 10000

R = 12% = ( 12/4)% = 3%

T = 6months = 6/3 = 3months

ATQ,

A = P( 1 + r/100 )^n

= 10000( 1 + 3/100 )^3

= 10000( 103/100 )^3

= 10000*103*103*103/1000000

= 10927.270

compound interest = ( A - P )

= ( 10927.270 - 10000 )

= 927.270