calculate The amount and the compound interest on Rs.10,000 for six months at 12% per annum compounded quarterly
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Solution
Principle = Rs.10000, Time = 6months = 3 quarters
Rate = 20% per annum = 5% per quarter
=> Amount = Rs. [10000*(1+5/100)^3)]
= Rs.10000 * 21/20 * 21/20 * 21/20 = Rs. 11576.25
CI = Rs. (11576.25- 10000) = 1576.25
hope it will be correct
Principle = Rs.10000, Time = 6months = 3 quarters
Rate = 20% per annum = 5% per quarter
=> Amount = Rs. [10000*(1+5/100)^3)]
= Rs.10000 * 21/20 * 21/20 * 21/20 = Rs. 11576.25
CI = Rs. (11576.25- 10000) = 1576.25
hope it will be correct
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