Question

calculate the compound interest and amount, if the interest is compounded in the given period. I) principal=10,000;Time=96onths;Rate=10%per annum ;interest compounded quarterly​

Answer 1

Answer:

96000 is the answer

Step-by-step explanation:

Principal = 10,000

Rate = 10%

Time = 96 month

Interest = P×R×T/100

= 10000×10×96/100

= 96,000

Answer 2

r= 10% per annum

= 10%/4 per quarter

= 2.5% =0.025

n = 96/3 = 32 quarters

A = p(1+r)ⁿ

=10000×(1+.025)³²

= 10000× 1.025³²

= 22037.57/-

CI = A -P = 12037.57/-

Amount = 22037.57/-

interest = 12037.57/-