Find amount if principal is 64000Rs, Rate of interest is 7.5% p.a and time period is 1 year interest compound is quarterly
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Answers
Answer:
We know formula for compound interest compounded quarterly
Amount=P(1+
n
r
)
nt
CompoundInterest=Amount−Principal
Given,
principal=Rs64000
Time=1year
Rate=10%
=64000(1+
4
.1
)
4
=64000(1.025)
4
=64000×1.10381
=70644.025
Amount is Rs70644.025
Compound interest will be=(70644.025-64000)=Rs6644.025
Answer:
P = 64000, T = 3/2yrs , R = 15%
Step-by-step explanation:
Time: 3/2×2=3 half years
Rate : 15% half is 7.5%
Interest for 1 year =64000×1×75/100×10
64×75=RS 4800
Amount=RS 4800+rs64000= RS 68800
Interest for 2nd year = 68800×1×75/100×10=RS 5160
Amount =5160+ 68800= RS 73960
Interest for 3rd year = 73960×1×75/100×10= 5547
Amount =5547+73960
=RS 79507
CI=A -P
79507 - 64000
= RS 15507
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