Question

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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Answer 1

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 2

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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