Question

find amount and CI of P = 4600 Rate = 8% and time = 1 years compounded quarterly​

Answer 1

Answer:

CI = p(1+ r/100) ^ n

where p -> principal amount

r -> rate of interest

n -> time period. or frequency

Here p = 4600

r = 8

n = 4

Apply the formula and get the result

Answer 2

Given :

Principle : ₹4600

Rate of interest : 8%

Time : 1 year

To find :

The amount and compound interest if the amount is compounded quarterly.

Solution :

First, we should find the amount.

$\sf \dashrightarrow Amount = Principle \bigg( 1 + \dfrac{Rate}{100} \bigg)^{4T}$

$\sf \dashrightarrow 4600 \bigg( 1 + \dfrac{8}{100} \bigg)^{4(1)}$

$\sf \dashrightarrow 4600 \bigg( 1 + \dfrac{2}{25} \bigg)^{4}$

$\sf \dashrightarrow 4600 \bigg( \dfrac{25 + 2}{25} \bigg)^{4}$

$\sf \dashrightarrow 4600 \bigg( \dfrac{27}{25} \bigg)^{4}$

$\sf \dashrightarrow 4600 \bigg( \dfrac{27^4}{25^4} \bigg)$

$\sf \dashrightarrow 4600 \bigg( \dfrac{531441}{390625} \bigg)$

$\sf \dashrightarrow 184 \bigg( \dfrac{531441}{15625}$

$\sf \dashrightarrow \dfrac{184 \times 531441}{15625} = \dfrac{97785144}{15625}$

$\sf \dashrightarrow \cancel \dfrac{97785144}{15625} = 6258.24$

Now, we can find the compound interest.

Compound interest :

$\sf \dashrightarrow Amount - Principle$

$\sf \dashrightarrow 6258.24 - 4600$

$\dashrightarrow$₹$\sf 1658.24$

hence the amount and compound interest are ₹6258.24 and ₹1658.24 respectively.