calculate the compound interest on ₹ 1000 over a period of one year at 10% per annum if interest is compounded annually
Answers
Answered by
1
Answer:
Given: P=1000,R=10% per annum =
4
10
% per quarter (1 year is 4 quarters) =2.5
T=1 year=4 quarters
CI=P(1+
100
R
)
T
−P
=1000(1+
100
2.5
)
4
−1000
CI=1103.8−1000=103.8
∴ interest over 4 quarters will be Rs.103.8......
Answered by
18
♠ Answer ♠
Given: P=1000,R=10% per annum =
4
10
% per quarter (1 year is 4 quarters) =2.5
T=1 year=4 quarters
CI=P(1+
100
R
)
T
−P
=1000(1+
100
2.5
)
4
−1000
CI=1103.8−1000=103.8
∴ interest over 4 quarters will be Rs.103.8
I hope it helps you so please follow me and mark as brainliest answer
Similar questions